Varian Medical Systems (VAR) received a Sell rating from Barrington analyst Michael Petusky today. The company’s shares closed last Tuesday at $172.96, close to its 52-week high of $176.19.
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 6.6% and a 51.8% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, US Physical Therapy, and Anika Therapeutics.
Varian Medical Systems has an analyst consensus of Hold, with a price target consensus of $177.70.
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Based on Varian Medical Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $694 million and net profit of $61.2 million. In comparison, last year the company earned revenue of $826 million and had a net profit of $29.4 million.
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Varian Medical Systems, Inc. engages in the manufacture of medical devices and software for treating cancer and other medical conditions. It operates through the Oncology Systems and Proton Solutions segments. The Oncology Systems segment designs, manufactures, sells, and services hardware and software products for treating cancer with conventional radiation therapy, and advanced treatments. The Proton Solutions segment delivers proton therapy, a form of external beam radiotherapy using proton beams for the treatment of cancer. The company was founded by William Hansen, Edward Ginzton, Russell Varian, and Sigurd Varian in 1948 and is headquartered in Palo Alto, CA.
