Varian Medical Systems, Inc. (NYSE:VAR) Position Cut by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC lowered its position in Varian Medical Systems, Inc. (NYSE:VAR) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,049 shares of the medical equipment provider’s stock after selling 5,605 shares during the quarter. Varian Medical Systems makes up about 3.7% of LaFleur & Godfrey LLC’s holdings, making the stock its 9th biggest holding. LaFleur & Godfrey LLC owned about 0.11% of Varian Medical Systems worth $14,179,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of VAR. Raymond James Trust N.A. increased its holdings in shares of Varian Medical Systems by 2.7% in the 1st quarter. Raymond James Trust N.A. now owns 2,741 shares of the medical equipment provider’s stock valued at $388,000 after acquiring an additional 71 shares during the period. Creative Planning increased its holdings in shares of Varian Medical Systems by 0.8% in the 4th quarter. Creative Planning now owns 10,211 shares of the medical equipment provider’s stock valued at $1,157,000 after acquiring an additional 80 shares during the period. Utah Retirement Systems increased its holdings in shares of Varian Medical Systems by 0.6% in the 4th quarter. Utah Retirement Systems now owns 17,078 shares of the medical equipment provider’s stock valued at $1,935,000 after acquiring an additional 100 shares during the period. First Personal Financial Services increased its holdings in shares of Varian Medical Systems by 58.8% in the 4th quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 130 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in shares of Varian Medical Systems by 32.3% in the 1st quarter. Moody National Bank Trust Division now owns 573 shares of the medical equipment provider’s stock valued at $81,000 after acquiring an additional 140 shares during the period. Institutional investors own 92.18% of the company’s stock.

NYSE VAR opened at $134.69 on Friday. Varian Medical Systems, Inc. has a 12 month low of $101.42 and a 12 month high of $142.50. The stock has a market cap of $12.63 billion, a PE ratio of 30.47, a P/E/G ratio of 3.71 and a beta of 0.81.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.11). The business had revenue of $779.40 million for the quarter, compared to analyst estimates of $776.28 million. Varian Medical Systems had a return on equity of 24.40% and a net margin of 12.59%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. Sell-side analysts forecast that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current year.

In other Varian Medical Systems news, SVP John W. Kuo sold 13,259 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $141.29, for a total value of $1,873,364.11. Following the completion of the sale, the senior vice president now owns 38,326 shares of the company’s stock, valued at $5,415,080.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kolleen T. Kennedy sold 699 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $140.90, for a total transaction of $98,489.10. Following the completion of the sale, the insider now directly owns 27,441 shares of the company’s stock, valued at approximately $3,866,436.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,639 shares of company stock valued at $10,464,429. Corporate insiders own 0.74% of the company’s stock.

Several equities analysts have issued reports on the stock. Robert W. Baird raised shares of Varian Medical Systems from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $127.00 to $162.00 in a research note on Friday, March 22nd. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. Citigroup decreased their target price on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 target price on the stock in a research report on Saturday, January 26th. Finally, Jefferies Financial Group boosted their target price on shares of Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Varian Medical Systems currently has a consensus rating of “Buy” and an average price target of $143.33.

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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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