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The New Varian: A Leaner, Meaner Medical Machine Company

PART:
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Part 9
The New Varian: A Leaner, Meaner Medical Machine Company PART 9 OF 9

Varian Medical Systems’ Recent Stock Performance

Stock performance

Varian Medical Systems (VAR) closed at $96.20 on August 9, 2017. It has a 50-day moving average of $102.30, and a 200-day moving average of $93.20. On August 9, 2017, Varian stock was trading ~27% above its 52-week low of $75.90 on November 9, 2016, and ~10% below its 52-week high of $107.10 on July 14, 2017. While the company’s stock price surged earlier this year, over the past few weeks, the stock has fallen. Year-to-date, Varian stock has risen ~7%. However, over the last month, the stock has fallen ~7.2%.

Varian Medical Systems&#8217; Recent Stock Performance

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Varian’s stock price fell more than 1% on July 26, 2017, as the company failed to meet analysts’ revenue estimates for 3Q17. For an overview of Varian’s 3Q17 results, read Key Highlights from Varian Medical Systems’ 3Q17 Earnings. Furthermore, as we’ve discussed previously in this series, the company reduced its revenue guidance.

On Jan 30, 2017, Varian stock fell sharply on the completion of the company’s spin-off of its Imaging Components business to Varex Imaging (VREX). For more about the spin-off, read All Eyes on Effects of Varian Spinning Off Its Imaging Business.

Industry comparison

Varian has risen ~15% in the past 12 months. The company’s stock performed better than the broader market. Represented by the S&P 500, the market returned ~14% during the same period. Varian’s performance can also be compared to that of the Health Care Select Sector SPDR ETF (XLV), which represents the broader US healthcare sector. XLV has returned more than 6% in the past year. As of August 10, 2017, peers Accuray (ARAY), Boston Scientific (BSX), and C. R. Bard (BCR) had generated returns of -24%, 10%, and 43%, respectively, over the past 12 months.

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