State Board of Administration of Florida Retirement System lessened its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,471 shares of the medical equipment provider’s stock after selling 3,222 shares during the period. State Board of Administration of Florida Retirement System owned 0.15% of Varian Medical Systems worth $15,275,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of VAR. IFM Investors Pty Ltd grew its position in Varian Medical Systems by 40.8% in the second quarter. IFM Investors Pty Ltd now owns 4,313 shares of the medical equipment provider’s stock valued at $490,000 after acquiring an additional 1,249 shares in the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of Varian Medical Systems during the second quarter worth approximately $495,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Varian Medical Systems by 18.4% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,653 shares of the medical equipment provider’s stock worth $3,145,000 after buying an additional 4,296 shares in the last quarter. Cohen Klingenstein LLC acquired a new stake in shares of Varian Medical Systems during the second quarter worth approximately $2,047,000. Finally, Bank of Montreal Can acquired a new stake in shares of Varian Medical Systems during the second quarter worth approximately $10,933,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.
A number of analysts have recently weighed in on VAR shares. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday, October 4th. Robert W. Baird assumed coverage on shares of Varian Medical Systems in a research note on Friday, October 19th. They set a “neutral” rating and a $119.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a report on Wednesday, October 24th. Finally, Citigroup lifted their price target on Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Varian Medical Systems has an average rating of “Hold” and an average price target of $121.56.
NYSE VAR traded up $2.43 on Monday, reaching $125.82. The company had a trading volume of 984,800 shares, compared to its average volume of 709,601. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $130.29. The company has a market capitalization of $11.24 billion, a PE ratio of 28.44, a P/E/G ratio of 3.29 and a beta of 0.62.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.04). Varian Medical Systems had a return on equity of 27.54% and a net margin of 5.14%. The firm had revenue of $801.60 million for the quarter, compared to the consensus estimate of $766.26 million. During the same quarter in the previous year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Varian Medical Systems, Inc. will post 4.69 EPS for the current year.
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Varian Medical Systems Company Profile
Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.
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