Varian Medical Systems (VAR) has risen sharply, recording gains of 8.63% in the past 4 weeks. However, the stock has corrected -0.39% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 8.21% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Varian Medical Systems, Inc. is up 12.88% in the last 3-month period. Year-to-Date the stock performance stands at 17.02%. The stock has recorded a 20-day Moving Average of 1.45% and the 50-Day Moving Average is 8.1%.
Varian Medical Systems (NYSE:VAR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $93.55 and $93.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $94.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $94.55, notching a gain of 0.64% for the day. The total traded volume was 2,662,562 . The stock had closed at $93.95 on the previous day.
Also, Citigroup maintains their rating on the shares of Varian Medical Systems (NYSE:VAR). The current rating of the shares is Neutral. Equity Analysts at the Firm raises the price target to $88 per share from $84 per share. The rating by the firm was issued on July 28, 2016.
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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection. The Company offers tools for fighting cancer, taking X-ray images and protecting ports and borders. The Companys products include linear accelerators, brachytherapy afterloaders, treatment simulation and verification equipment, accessories, information management, treatment planning and image processing software. The Companys customers include university research and community hospitals, private and governmental institutions, healthcare agencies, doctors offices and cancer care clinics.