Varian Medical Systems, Inc. (NYSE:VAR) Stake Lowered by APG Asset Management N.V.

APG Asset Management N.V. decreased its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 70.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,501 shares of the medical equipment provider’s stock after selling 1,036,800 shares during the period. APG Asset Management N.V. owned 0.47% of Varian Medical Systems worth $42,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pearl River Capital LLC acquired a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $28,000. First Personal Financial Services raised its position in shares of Varian Medical Systems by 58.8% in the fourth quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock valued at $40,000 after buying an additional 130 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $49,000. Financial Gravity Companies Inc. acquired a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $49,000. Finally, Enlightenment Research LLC acquired a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $57,000. Institutional investors own 92.48% of the company’s stock.

Shares of NYSE VAR traded down $0.88 during trading on Friday, hitting $130.78. 1,287,451 shares of the company traded hands, compared to its average volume of 582,918. Varian Medical Systems, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $142.50. The firm has a market capitalization of $11.87 billion, a P/E ratio of 29.59, a P/E/G ratio of 3.46 and a beta of 0.86.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $741.00 million during the quarter, compared to analyst estimates of $717.83 million. During the same quarter in the prior year, the company earned $1.06 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts forecast that Varian Medical Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

Several research analysts have commented on the stock. Barrington Research upped their price target on shares of Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Jefferies Financial Group boosted their price objective on shares of Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a research note on Thursday, January 24th. Royal Bank of Canada boosted their price objective on shares of Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 24th. Zacks Investment Research raised shares of Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 price objective on the stock in a research note on Saturday, January 26th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $137.56.

In related news, insider Dow R. Wilson sold 45,050 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $141.58, for a total value of $6,378,179.00. Following the completion of the transaction, the insider now directly owns 109,533 shares of the company’s stock, valued at approximately $15,507,682.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kolleen T. Kennedy sold 6,517 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $130.10, for a total transaction of $847,861.70. Following the completion of the transaction, the executive vice president now directly owns 32,986 shares of the company’s stock, valued at $4,291,478.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,387 shares of company stock valued at $14,602,567. Company insiders own 0.78% of the company’s stock.

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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 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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