Renaissance Technologies LLC Buys 725,193 Shares of Varian Medical Systems, Inc. (VAR)

Renaissance Technologies LLC grew its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 147.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,215,993 shares of the medical equipment provider’s stock after purchasing an additional 725,193 shares during the period. Renaissance Technologies LLC owned approximately 1.33% of Varian Medical Systems worth $136,106,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its stake in shares of Varian Medical Systems by 16.5% in the third quarter. Penserra Capital Management LLC now owns 3,220 shares of the medical equipment provider’s stock valued at $360,000 after buying an additional 455 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Varian Medical Systems by 16.5% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 3,404 shares of the medical equipment provider’s stock valued at $381,000 after buying an additional 483 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Varian Medical Systems by 10.2% in the second quarter. First Republic Investment Management Inc. now owns 5,535 shares of the medical equipment provider’s stock valued at $629,000 after buying an additional 511 shares in the last quarter. GAM Holding AG boosted its stake in shares of Varian Medical Systems by 7.0% in the third quarter. GAM Holding AG now owns 8,073 shares of the medical equipment provider’s stock valued at $904,000 after buying an additional 527 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Varian Medical Systems by 4.7% in the third quarter. Commonwealth Equity Services LLC now owns 12,378 shares of the medical equipment provider’s stock valued at $1,385,000 after buying an additional 553 shares in the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP John W. Kuo sold 1,324 shares of the business’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $115.50, for a total value of $152,922.00. Following the completion of the transaction, the senior vice president now directly owns 30,286 shares of the company’s stock, valued at $3,498,033. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Gary E. Bischoping, Jr. sold 845 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total value 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 $120,240. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,623 shares of company stock worth $857,164. 0.78% of the stock is owned by company insiders.

VAR has been the topic of a number of analyst reports. Citigroup lifted their price target on Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. UBS Group initiated coverage on Varian Medical Systems in a research note on Wednesday, November 28th. They issued a “buy” rating and a $140.00 price target on the stock. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. Royal Bank of Canada set a $115.00 price target on Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday, October 4th. Finally, Robert W. Baird initiated coverage on Varian Medical Systems in a research report on Friday, October 19th. They set a “neutral” rating and a $119.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Varian Medical Systems has a consensus rating of “Hold” and a consensus price target of $121.56.

VAR opened at $118.81 on Friday. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.22 and a beta of 0.62. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $130.29.

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 Zacks’ consensus estimate of $1.20 by ($0.04). The firm had revenue of $801.60 million for the quarter, compared to analysts’ expectations of $766.26 million. Varian Medical Systems had a return on equity of 27.54% and a net margin of 5.14%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, equities analysts predict that Varian Medical Systems, Inc. will post 4.69 EPS 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 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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Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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