Varian Medical Systems Stock Gaps Up On Today's Open (VAR)
Shares of Varian Medical Systems (NYSE:VAR) were gapping up Friday morning with an open price 16.8% higher than Thursday's closing price. The stock closed at $58.10 yesterday and opened today's trading at $67.87.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Shares of Varian Medical Systems (NYSE: VAR) were gapping up Friday morning with an open price 16.8% higher than Thursday's closing price. The stock closed at $58.10 Thursday and opened today's trading at $67.87.
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The average volume for Varian Medical Systems has been 859,400 shares per day over the past 30 days. Varian Medical Systems has a market cap of $6.32 billion and is part of the health care sector and health services industry. Shares are down 15% year to date as of the close of trading on Thursday. Varian Medical Systems, Inc. designs, manufactures, sells, and services equipment and software products for treating cancer with radiotherapy, stereotactic radiotherapy, stereotactic body radiotherapy, stereotactic radiosurgery, and brachytherapy worldwide. The company has a P/E ratio of 15.7, below the average health services industry P/E ratio of 16 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Varian Medical Systems as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Varian Medical Systems Ratings Report. Get more investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.