Davis R M Inc. purchased a new stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,600 shares of the medical equipment provider’s stock, valued at approximately $227,000.
Other institutional investors have also recently made changes to their positions in the company. Burney Co. lifted its holdings in shares of Varian Medical Systems by 6.0% during the fourth quarter. Burney Co. now owns 33,780 shares of the medical equipment provider’s stock worth $3,828,000 after purchasing an additional 1,915 shares during the period. LPL Financial LLC lifted its holdings in Varian Medical Systems by 6.3% in the fourth quarter. LPL Financial LLC now owns 23,546 shares of the medical equipment provider’s stock valued at $2,668,000 after acquiring an additional 1,400 shares during the period. Polar Capital LLP acquired a new position in Varian Medical Systems in the fourth quarter valued at approximately $28,824,000. JLB & Associates Inc. lifted its holdings in Varian Medical Systems by 0.7% in the fourth quarter. JLB & Associates Inc. now owns 81,621 shares of the medical equipment provider’s stock valued at $9,248,000 after acquiring an additional 528 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Varian Medical Systems by 1.6% in 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 acquiring an additional 26,529 shares during the period. Hedge funds and other institutional investors own 92.63% of the company’s stock.
VAR stock traded up $0.52 during trading on Wednesday, reaching $128.46. 413,700 shares of the stock traded hands, compared to its average volume of 658,450. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $142.50. The company has a market cap of $11.85 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 3.48 and a beta of 0.81.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.11). The company 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 company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 EPS. Equities analysts predict that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current fiscal year.
In related news, SVP John W. Kuo sold 465 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $130.11, for a total value of $60,501.15. Following the transaction, the senior vice president now owns 35,566 shares in the company, valued at $4,627,492.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kolleen T. Kennedy sold 543 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $131.69, for a total value of $71,507.67. Following the completion of the transaction, the insider now owns 27,441 shares in the company, valued at approximately $3,613,705.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,677 shares of company stock worth $10,076,540. 0.78% of the stock is currently owned by insiders.
VAR has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted 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 upped their price target on Varian Medical Systems to $130.00 and gave the company a “sector perform” rating in a research note 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 reaffirmed 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 price objective for the company in a 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 company’s stock. The company currently has an average 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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