Gotham Asset Management LLC Sells 12,636 Shares of Varian Medical Systems, Inc. (NYSE:VAR)

Gotham Asset Management LLC lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 51.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,796 shares of the medical equipment provider’s stock after selling 12,636 shares during the quarter. Gotham Asset Management LLC’s holdings in Varian Medical Systems were worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Creative Planning raised its stake in Varian Medical Systems by 0.8% during the fourth quarter. Creative Planning now owns 10,211 shares of the medical equipment provider’s stock valued at $1,157,000 after buying an additional 80 shares in the last quarter. Utah Retirement Systems raised its position in shares of Varian Medical Systems by 0.6% during the 4th quarter. Utah Retirement Systems now owns 17,078 shares of the medical equipment provider’s stock worth $1,935,000 after purchasing an additional 100 shares during the period. First Personal Financial Services raised its position in shares of Varian Medical Systems by 58.8% during the 4th quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 130 shares during the period. Contravisory Investment Management Inc. raised its position in shares of 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 purchasing an additional 182 shares during the period. Finally, Advisor Partners LLC raised its position in shares of Varian Medical Systems by 9.8% during the 4th quarter. Advisor Partners LLC now owns 2,333 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 92.48% of the company’s stock.

VAR stock traded down $0.88 on Friday, reaching $130.78. The company’s stock had a trading volume of 1,287,451 shares, compared to its average volume of 582,918. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $142.50. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 3.46 and a beta of 0.86.

Varian Medical Systems (NYSE:VAR) last issued 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 business had revenue of $741.00 million during the quarter, compared to the consensus estimate of $717.83 million. During the same period last year, the company earned $1.06 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that Varian Medical Systems, Inc. will post 4.73 EPS for the current fiscal year.

A number of analysts have recently weighed in on the company. Barrington Research increased their price target on Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Jefferies Financial Group increased their price target on Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. Royal Bank of Canada increased their price target on Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 24th. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 price target on the stock in a research report on Saturday, January 26th. Finally, BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Buy” and an average price target of $137.56.

In other Varian Medical Systems news, SVP John W. Kuo sold 13,259 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $141.29, for a total transaction of $1,873,364.11. Following the completion of the transaction, the senior vice president now directly owns 38,326 shares of the company’s stock, valued at approximately $5,415,080.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Magnus Momsen sold 1,446 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $131.56, for a total value of $190,235.76. Following the transaction, the chief accounting officer now directly owns 1,787 shares of the company’s stock, valued at $235,097.72. The disclosure for this sale can be found here. Insiders sold a total of 106,387 shares of company stock valued at $14,602,567 over the last three months. Corporate insiders own 0.78% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Gotham Asset Management LLC Sells 12,636 Shares of Varian Medical Systems, Inc. (NYSE:VAR)” was posted by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.baseballdailydigest.com/news/2019/04/21/gotham-asset-management-llc-has-1-34-million-position-in-varian-medical-systems-inc-var.html.

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.

Read More: What is a portfolio manager?

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

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.