Today’s Price Action: Can Varian Medical Systems, Inc.’s Tomorrow be Different? The Stock Just Broke Its High

Today's Price Action: Can Varian Medical Systems, Inc.'s Tomorrow be Different? The Stock Just Broke Its High

The stock of Varian Medical Systems, Inc. (NYSE:VAR) reached all time high today, Oct, 10 and still has $131.68 target or 32.00% above today’s $99.76 share price. This indicates more upside for the $9.33 billion company. This technical setup was reported by Barchart.com. If the $131.68 PT is reached, the company will be worth $2.99B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 310,562 shares traded hands. Varian Medical Systems, Inc. (NYSE:VAR) has risen 24.24% since March 7, 2016 and is uptrending. It has outperformed by 16.65% the S&P500.

Analysts await Varian Medical Systems, Inc. (NYSE:VAR) to report earnings on October, 26. They expect $1.35 EPS, up 29.81% or $0.31 from last year’s $1.04 per share. VAR’s profit will be $126.26 million for 18.47 P/E if the $1.35 EPS becomes a reality. After $1.22 actual EPS reported by Varian Medical Systems, Inc. for the previous quarter, Wall Street now forecasts 10.66% EPS growth.

Varian Medical Systems, Inc. (NYSE:VAR) Ratings Coverage

Out of 8 analysts covering Varian Medical Systems Inc. (NYSE:VAR), 3 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 38% are positive. Varian Medical Systems Inc. has been the topic of 11 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The stock of Varian Medical Systems, Inc. (NYSE:VAR) has “Outperform” rating given on Tuesday, January 12 by Barrington Research. Goldman Sachs downgraded Varian Medical Systems, Inc. (NYSE:VAR) on Monday, September 28 to “Sell” rating. The firm has “Sector Perform” rating given on Tuesday, December 22 by RBC Capital Markets. Robert W. Baird downgraded Varian Medical Systems, Inc. (NYSE:VAR) rating on Tuesday, October 20. Robert W. Baird has “Neutral” rating and $82 price target. Brean Capital maintained the shares of VAR in a report on Thursday, April 28 with “Buy” rating. The firm has “Neutral” rating given on Thursday, November 12 by Citigroup. The stock of Varian Medical Systems, Inc. (NYSE:VAR) has “Neutral” rating given on Wednesday, September 28 by Robert W. Baird.

According to Zacks Investment Research, “Varian Medical Systems, Inc. is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. It supplies tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems, Inc. is headquartered in Palo Alto, California.”

Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.03, from 0.96 in 2016Q1. The ratio dropped, as 37 funds sold all Varian Medical Systems, Inc. shares owned while 180 reduced positions. 39 funds bought stakes while 163 increased positions. They now own 92.56 million shares or 3.46% less from 95.88 million shares in 2016Q1.
Winch Advisory Lc holds 0% or 31 shares in its portfolio. Citigroup has 0% invested in the company for 3,746 shares. Dnb Asset Mngmt As holds 0% or 64,133 shares in its portfolio. Moreover, Kbc Gru Nv has 0.04% invested in Varian Medical Systems, Inc. (NYSE:VAR) for 37,403 shares. Motley Fool Wealth Mngmt Limited Liability Corporation has 34,260 shares for 0.31% of their US portfolio. Utd Fire Gp reported 1,000 shares or 0.03% of all its holdings. Twin Tree Mngmt Limited Partnership accumulated 0% or 767 shares. Sarasin & Partners Llp has 1.33% invested in the company for 974,853 shares. Pub Sector Pension Invest Board holds 18,057 shares or 0.02% of its portfolio. Hl Finance Serv Limited Co accumulated 0.01% or 5,877 shares. Fjarde Ap holds 0.04% of its portfolio in Varian Medical Systems, Inc. (NYSE:VAR) for 22,718 shares. Cubist Systematic Strategies Ltd Co has 0.03% invested in the company for 6,967 shares. Regal Inv Advsrs has 35,373 shares for 0.8% of their US portfolio. The New York-based Alliancebernstein Ltd Partnership has invested 0.01% in Varian Medical Systems, Inc. (NYSE:VAR). Sei Invs Co holds 0% or 3,952 shares in its portfolio.

Insider Transactions: Since April 18, 2016, the stock had 0 insider purchases, and 16 insider sales for $10.42 million net activity. The insider WILSON DOW R sold $820,806. FINNEY ELISHA W had sold 2,000 shares worth $191,646 on Thursday, September 1. $212,500 worth of shares were sold by VERHOEF CLARENCE R on Monday, April 18. The insider KUO JOHN W sold 4,073 shares worth $388,860. The insider GUERTIN TIMOTHY E sold $326,210. Shares for $128,969 were sold by LARET MARK R. $84,831 worth of shares were sold by NAUMANN-ETIENNE RUEDIGER on Wednesday, June 8.

More notable recent Varian Medical Systems, Inc. (NYSE:VAR) news were published by: Forbes.com which released: “Varian Medical Systems Reaches Analyst Target Price” on July 28, 2016, also Prnewswire.com with their article: “Varian Medical Systems Announces Plan to Spin Off Imaging Components Business” published on May 23, 2016, Prnewswire.com published: “Varian Medical Systems Announces Company Name For Imaging Components Business” on July 21, 2016. More interesting news about Varian Medical Systems, Inc. (NYSE:VAR) were released by: Prnewswire.com and their article: “Varian’s InSightive Analytics Solution Now Supports Multi-modality Treatment” published on September 19, 2016 as well as Fool.com‘s news article titled: “Better Buy: Intuitive Surgical, Inc. vs. Varian Medical Systems, Inc.” with publication date: May 17, 2016.

VAR Company Profile

Varian Medical Systems, Inc., incorporated on January 22, 1976, makes medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. The Firm supplies X-ray imaging components for medical, scientific, cargo screening and industrial applications. The Company’s divisions include Oncology Systems, Imaging Components and Other. The Firm offers a range of post-warranty equipment service contracts and software support contracts. The Company’s domestic service centers are in Milpitas, California; Las Vegas, Nevada, and Atlanta, Georgia. The Company’s international service centers are in France, the United Kingdom, Switzerland, Denmark, Belgium, Germany, the Netherlands, Spain and Italy, among others.

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