Los Angeles Capital Management & Equity Research Inc. lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,360 shares of the medical equipment provider’s stock after selling 875 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.20% of Varian Medical Systems worth $20,971,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in VAR. Squar Milner Financial Services LLC acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $117,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $118,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $137,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Varian Medical Systems by 97.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,720 shares of the medical equipment provider’s stock worth $143,000 after purchasing an additional 850 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $156,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.
VAR opened at $119.37 on Friday. Varian Medical Systems, Inc. has a 12 month low of $101.42 and a 12 month high of $130.29. The company has a market capitalization of $11.21 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 3.26 and a beta of 0.64.
Varian Medical Systems (NYSE:VAR) last posted its earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The business had revenue of $801.60 million during the quarter, compared to analyst estimates of $766.26 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current year.
A number of brokerages have recently weighed in on VAR. Citigroup increased their price target on Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. JPMorgan Chase & Co. dropped their price target on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 24th. Robert W. Baird began coverage on Varian Medical Systems in a research report on Friday, October 19th. They set a “neutral” rating and a $119.00 price target on the stock. Royal Bank of Canada set a $115.00 price target on Varian Medical Systems and gave the stock a “hold” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Varian Medical Systems currently has an average rating of “Hold” and a consensus target price of $119.25.
In other Varian Medical Systems news, SVP Gary E. Bischoping, Jr. sold 845 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total transaction of $101,602.80. Following the completion of the transaction, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $120,240. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John W. Kuo sold 862 shares of the stock in a transaction on Monday, October 15th. The shares were sold at an average price of $105.26, for a total value of $90,734.12. Following the transaction, the senior vice president now directly owns 30,686 shares of the company’s stock, valued at $3,230,008.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,061 shares of company stock worth $2,230,050. 0.78% of the stock is owned by insiders.
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About Varian Medical Systems
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 Varian Particle Therapy. The Oncology Systems segment provides 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.
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