US Bancorp DE Buys 6,138 Shares of Varian Medical Systems, Inc. (VAR)

US Bancorp DE raised its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,789 shares of the medical equipment provider’s stock after acquiring an additional 6,138 shares during the period. US Bancorp DE owned approximately 0.06% of Varian Medical Systems worth $6,357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fiera Capital Corp lifted its position in shares of Varian Medical Systems by 3.4% during the 2nd quarter. Fiera Capital Corp now owns 2,521,717 shares of the medical equipment provider’s stock worth $286,769,000 after buying an additional 83,657 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Varian Medical Systems by 9.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,340,642 shares of the medical equipment provider’s stock valued at $152,458,000 after acquiring an additional 118,604 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Varian Medical Systems by 40.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,145,010 shares of the medical equipment provider’s stock valued at $130,211,000 after acquiring an additional 331,736 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Varian Medical Systems by 7.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 665,604 shares of the medical equipment provider’s stock valued at $74,819,000 after acquiring an additional 47,554 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Varian Medical Systems by 6,258.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 529,609 shares of the medical equipment provider’s stock valued at $1,316,000 after acquiring an additional 521,280 shares during the period. Institutional investors and hedge funds own 96.06% of the company’s stock.

Shares of NYSE VAR traded up $2.43 on Monday, reaching $125.82. 984,800 shares of the company traded hands, compared to its average volume of 709,601. The company has a market cap of $11.24 billion, a P/E ratio of 28.44, a P/E/G ratio of 3.29 and a beta of 0.62. Varian Medical Systems, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $130.29.

Varian Medical Systems (NYSE:VAR) last posted its earnings results 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). The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $766.26 million. Varian Medical Systems had a return on equity of 27.54% and a net margin of 5.14%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. On average, analysts expect that Varian Medical Systems, Inc. will post 4.69 EPS for the current fiscal year.

Several brokerages have issued reports on VAR. Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. JPMorgan Chase & Co. lowered their price target on shares of Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 24th. Robert W. Baird started 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 target on the stock. Citigroup upped their price target on shares of Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada set a $115.00 price target on shares of Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, October 4th. Three investment 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. The stock has a consensus rating of “Hold” and a consensus price target of $121.56.

In other Varian Medical Systems news, SVP Gary E. Bischoping, Jr. sold 845 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $120.24, for a total value of $101,602.80. Following the completion of the sale, the senior vice president now owns 1,000 shares of the company’s stock, valued at $120,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John W. Kuo sold 1,324 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $115.50, for a total value of $152,922.00. Following the transaction, the senior vice president now owns 30,286 shares in the company, valued at $3,498,033. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,423 shares of company stock valued at $2,278,268. Corporate insiders own 0.78% of the company’s stock.

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Varian Medical Systems 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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Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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