Varian Medical Systems, Inc. (NYSE:VAR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,800 shares of the medical equipment provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Varian Medical Systems were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Calamos Advisors LLC boosted its holdings in Varian Medical Systems by 6.7% during the 3rd quarter. Calamos Advisors LLC now owns 48,236 shares of the medical equipment provider’s stock worth $5,399,000 after acquiring an additional 3,043 shares during the last quarter. JLB & Associates Inc. raised its stake in shares of Varian Medical Systems by 0.7% during the 4th quarter. JLB & Associates Inc. now owns 81,621 shares of the medical equipment provider’s stock worth $9,248,000 after purchasing an additional 528 shares during the period. Resources Management Corp CT ADV bought a new stake in shares of Varian Medical Systems during the 3rd quarter worth $111,000. Contravisory Investment Management Inc. bought a new stake in shares of Varian Medical Systems during the 3rd quarter worth $292,000. Finally, OppenheimerFunds Inc. raised its stake in shares of Varian Medical Systems by 87.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,456 shares of the medical equipment provider’s stock worth $507,000 after purchasing an additional 2,085 shares during the period. Hedge funds and other institutional investors own 98.38% of the company’s stock.

Shares of Varian Medical Systems stock opened at $132.72 on Thursday. The company has a market cap of $11.91 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 3.49 and a beta of 0.85. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $133.41.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The firm had revenue of $741.00 million during the quarter, compared to the consensus estimate of $717.83 million. During the same quarter last year, the company posted $1.06 EPS. Varian Medical Systems’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, research analysts expect that Varian Medical Systems, Inc. will post 4.7 EPS for the current year.

In related news, EVP Kolleen T. Kennedy sold 699 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $131.45, for a total transaction of $91,883.55. Following the sale, the executive vice president now directly owns 27,597 shares of the company’s stock, valued at $3,627,625.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kolleen T. Kennedy sold 6,517 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $130.10, for a total value of $847,861.70. Following the completion of the transaction, the executive vice president now directly owns 32,986 shares in the company, valued at $4,291,478.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,709 shares of company stock worth $5,346,247. Insiders own 0.74% of the company’s stock.

A number of equities research analysts have recently commented on the company. Goldman Sachs Group upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $107.00 to $129.00 in a research note on Friday, January 4th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. UBS Group started coverage on 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. Royal Bank of Canada upped their price target on Varian Medical Systems to $130.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. Finally, Citigroup decreased their price target on Varian Medical Systems from $145.00 to $131.00 and set a “buy” rating on the stock in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Varian Medical Systems currently has an average rating of “Buy” and an average target price of $130.63.

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About Varian Medical Systems

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

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