Parallel Advisors LLC Sells 705 Shares of Varian Medical Systems, Inc. (NYSE:VAR)

Parallel Advisors LLC reduced its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 37.3% in the second quarter, HoldingsChannel.com reports. The firm owned 1,183 shares of the medical equipment provider’s stock after selling 705 shares during the period. Parallel Advisors LLC’s holdings in Varian Medical Systems were worth $161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Varian Medical Systems by 10.5% during the 1st quarter. BlackRock Inc. now owns 7,997,119 shares of the medical equipment provider’s stock worth $1,133,353,000 after purchasing an additional 760,049 shares in the last quarter. FMR LLC increased its holdings in Varian Medical Systems by 245.7% during the 1st quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock worth $184,244,000 after purchasing an additional 923,949 shares in the last quarter. Northern Trust Corp increased its holdings in Varian Medical Systems by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,299,670 shares of the medical equipment provider’s stock worth $184,189,000 after purchasing an additional 10,256 shares in the last quarter. Geode Capital Management LLC increased its holdings in Varian Medical Systems by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 1,259,504 shares of the medical equipment provider’s stock worth $142,479,000 after purchasing an additional 84,116 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Varian Medical Systems by 23.3% during the 1st quarter. California Public Employees Retirement System now owns 585,040 shares of the medical equipment provider’s stock worth $82,912,000 after purchasing an additional 110,568 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP John W. Kuo sold 465 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $110.49, for a total value of $51,377.85. Following the transaction, the senior vice president now owns 35,566 shares in the company, valued at $3,929,687.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gary E. Bischoping, Jr. sold 56,232 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $132.56, for a total value of $7,454,113.92. Following the completion of the transaction, the senior vice president now owns 27,393 shares in the company, valued at approximately $3,631,216.08. The disclosure for this sale can be found here. Insiders sold a total of 73,305 shares of company stock worth $9,749,453 in the last 90 days. Company insiders own 0.78% of the company’s stock.

Shares of NYSE VAR opened at $106.12 on Friday. Varian Medical Systems, Inc. has a twelve month low of $101.42 and a twelve month high of $142.50. The stock’s 50 day moving average price is $122.17 and its 200-day moving average price is $131.19. The company has a market capitalization of $9.88 billion, a PE ratio of 24.01, a PEG ratio of 2.94 and a beta of 0.84.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. The firm had revenue of $825.80 million for the quarter, compared to the consensus estimate of $762.29 million. During the same quarter in the previous year, the business earned $1.04 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. Research analysts expect that Varian Medical Systems, Inc. will post 4.62 earnings per share for the current fiscal year.

A number of analysts have commented on VAR shares. Citigroup decreased their price objective 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. Robert W. Baird set a $158.00 price objective on Varian Medical Systems and gave the stock a “buy” rating in a report on Friday, July 26th. Zacks Investment Research lowered Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a report on Saturday, July 27th. ValuEngine lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Varian Medical Systems currently has a consensus rating of “Hold” and an average target price of $141.22.

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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