Varian Medical Systems, Inc. (VAR) Position Lifted by Fmr LLC

FMR LLC boosted its position in Varian Medical Systems, Inc. (NYSE:VAR) by 222.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 376,111 shares of the medical equipment provider’s stock after purchasing an additional 259,404 shares during the quarter. FMR LLC owned approximately 0.41% of Varian Medical Systems worth $42,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc boosted its position in shares of Varian Medical Systems by 1.1% during the third quarter. Vanguard Group Inc now owns 9,848,756 shares of the medical equipment provider’s stock valued at $1,102,371,000 after buying an additional 106,728 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Varian Medical Systems by 1.6% during the fourth quarter. Bank of America Corp DE now owns 1,649,377 shares of the medical equipment provider’s stock valued at $186,891,000 after buying an additional 26,529 shares during the last quarter. Northern Trust Corp boosted its position in shares of Varian Medical Systems by 1.3% during the fourth quarter. Northern Trust Corp now owns 1,289,414 shares of the medical equipment provider’s stock valued at $146,103,000 after buying an additional 16,717 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Varian Medical Systems by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 1,259,504 shares of the medical equipment provider’s stock valued at $142,479,000 after buying an additional 84,116 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Varian Medical Systems by 5.6% during the third quarter. AQR Capital Management LLC now owns 748,920 shares of the medical equipment provider’s stock valued at $83,827,000 after buying an additional 39,743 shares during the last quarter. Institutional investors and hedge funds own 92.18% of the company’s stock.

VAR has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on Varian Medical Systems to $145.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Royal Bank of Canada increased their price objective on Varian Medical Systems to $130.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. Barrington Research reissued a “buy” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. Finally, Zacks Investment Research raised 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $143.33.

In other news, SVP Christopher A. Toth sold 4,621 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $135.17, for a total value of $624,620.57. Following the transaction, the senior vice president now owns 2,936 shares of the company’s stock, valued at $396,859.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kolleen T. Kennedy sold 699 shares of Varian Medical Systems stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $131.45, for a total value of $91,883.55. Following the sale, the executive vice president now directly owns 27,597 shares in the company, valued at approximately $3,627,625.65. The disclosure for this sale can be found here. Insiders sold 75,183 shares of company stock worth $10,537,592 in the last ninety days. Corporate insiders own 0.78% of the company’s stock.

NYSE:VAR traded up $0.09 on Friday, hitting $134.78. The stock had a trading volume of 533,008 shares, compared to its average volume of 674,089. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $142.50. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 3.59 and a beta of 0.81.

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

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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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