BB&T Corp increased its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,618 shares of the medical equipment provider’s stock after acquiring an additional 468 shares during the quarter. BB&T Corp owned about 0.19% of Varian Medical Systems worth $19,786,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Contravisory Investment Management Inc. raised its stake in Varian Medical Systems by 7.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 2,793 shares of the medical equipment provider’s stock worth $316,000 after acquiring an additional 182 shares in the last quarter. Moody National Bank Trust Division acquired a new position in Varian Medical Systems in the fourth quarter valued at $49,000. Penserra Capital Management LLC increased its stake in Varian Medical Systems by 16.5% in the third quarter. Penserra Capital Management LLC now owns 3,220 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 455 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in Varian Medical Systems by 16.5% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 3,404 shares of the medical equipment provider’s stock valued at $381,000 after purchasing an additional 483 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in Varian Medical Systems by 10.2% in the second quarter. First Republic Investment Management Inc. now owns 5,535 shares of the medical equipment provider’s stock valued at $629,000 after purchasing an additional 511 shares during the period. Hedge funds and other institutional investors own 98.38% of the company’s stock.
A number of research analysts have commented on VAR shares. Robert W. Baird started coverage on shares of Varian Medical Systems in a research note on Friday, October 19th. They issued a “neutral” rating and a $119.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective 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. Citigroup lifted their price objective on shares of Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. Finally, UBS Group initiated coverage on shares of Varian Medical Systems in a research note on Wednesday, November 28th. They issued a “buy” rating and a $140.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Varian Medical Systems has an average rating of “Buy” and an average target price of $130.63.
Shares of NYSE:VAR opened at $132.72 on Thursday. The stock has a market capitalization of $11.91 billion, a PE ratio of 30.03, a PEG ratio of 3.49 and a beta of 0.85. Varian Medical Systems, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $133.41.
Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The firm had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $717.83 million. Varian Medical Systems had a net margin of 12.28% and a return on equity of 26.18%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. As a group, sell-side analysts expect that Varian Medical Systems, Inc. will post 4.7 EPS for the current year.
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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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.
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