Stock Yards Bank & Trust Co. Takes $248,000 Position in Varian Medical Systems, Inc. (VAR)

Stock Yards Bank & Trust Co. purchased a new stake in Varian Medical Systems, Inc. (NYSE:VAR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,750 shares of the medical equipment provider’s stock, valued at approximately $248,000.

Other large investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Varian Medical Systems by 8.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 54,158 shares of the medical equipment provider’s stock valued at $7,675,000 after buying an additional 3,999 shares in the last quarter. Tompkins Financial Corp grew its holdings in shares of Varian Medical Systems by 63.3% during the 1st quarter. Tompkins Financial Corp now owns 1,148 shares of the medical equipment provider’s stock worth $128,000 after purchasing an additional 445 shares during the period. BTIM Corp. grew its holdings in shares of Varian Medical Systems by 2.2% during the 1st quarter. BTIM Corp. now owns 210,692 shares of the medical equipment provider’s stock worth $29,859,000 after purchasing an additional 4,615 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Varian Medical Systems by 2.7% during the 1st quarter. Raymond James Trust N.A. now owns 2,741 shares of the medical equipment provider’s stock worth $388,000 after purchasing an additional 71 shares during the period. Finally, Sciencast Management LP grew its holdings in shares of Varian Medical Systems by 10.0% during the 1st quarter. Sciencast Management LP now owns 4,400 shares of the medical equipment provider’s stock worth $622,000 after purchasing an additional 400 shares during the period. 92.18% of the stock is owned by institutional investors.

VAR traded up $0.09 during mid-day trading on Friday, hitting $134.78. 533,008 shares of the stock were exchanged, compared to its average volume of 674,089. Varian Medical Systems, Inc. has a 1-year low of $101.42 and a 1-year high of $142.50. The firm has a market cap 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 earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.11). The firm 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%. Varian Medical Systems’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. On average, research analysts anticipate that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current year.

In other Varian Medical Systems news, insider Kolleen T. Kennedy sold 544 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $134.49, for a total value of $73,162.56. Following the sale, the insider now owns 27,634 shares of the company’s stock, valued at approximately $3,716,496.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Magnus Momsen sold 1,446 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $131.56, for a total value of $190,235.76. Following the completion of the sale, the chief accounting officer now directly owns 1,787 shares in the company, valued at approximately $235,097.72. The disclosure for this sale can be found here. Insiders sold a total of 75,183 shares of company stock worth $10,537,592 in the last ninety days. 0.78% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on VAR shares. UBS Group increased their price target on Varian Medical Systems from $150.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barrington Research reiterated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. Jefferies Financial Group increased their price target on Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. Citigroup lowered their price target on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Zacks Investment Research lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $143.33.

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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.

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

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