Kornitzer Capital Management Inc. KS Purchases Shares of 156,761 Varian Medical Systems, Inc. (NYSE:VAR)

Kornitzer Capital Management Inc. KS purchased a new stake in Varian Medical Systems, Inc. (NYSE:VAR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 156,761 shares of the medical equipment provider’s stock, valued at approximately $18,669,000. Kornitzer Capital Management Inc. KS owned approximately 0.17% of Varian Medical Systems at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. increased its position in shares of Varian Medical Systems by 1.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,589 shares of the medical equipment provider’s stock worth $1,033,000 after purchasing an additional 89 shares in the last quarter. Sepio Capital LLC increased its position in shares of Varian Medical Systems by 0.4% during the second quarter. Sepio Capital LLC now owns 21,692 shares of the medical equipment provider’s stock worth $2,953,000 after purchasing an additional 89 shares in the last quarter. Berman Capital Advisors LLC increased its position in shares of Varian Medical Systems by 16.3% during the second quarter. Berman Capital Advisors LLC now owns 656 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 92 shares in the last quarter. Whittier Trust Co. increased its position in shares of Varian Medical Systems by 0.8% during the third quarter. Whittier Trust Co. now owns 12,303 shares of the medical equipment provider’s stock worth $1,465,000 after purchasing an additional 93 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Varian Medical Systems by 5.7% during the second quarter. Zions Bancorporation N.A. now owns 1,787 shares of the medical equipment provider’s stock worth $243,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 91.48% of the company’s stock.

In other Varian Medical Systems news, SVP John W. Kuo sold 465 shares of Varian Medical Systems stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.30, for a total value of $54,079.50. Following the sale, the senior vice president now owns 35,411 shares of the company’s stock, valued at approximately $4,118,299.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,395 shares of company stock worth $158,388 in the last ninety days. 0.78% of the stock is owned by corporate insiders.

VAR has been the topic of a number of research analyst reports. Robert W. Baird set a $158.00 target price on Varian Medical Systems and gave the stock a “buy” rating in a research report on Friday, July 26th. BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Monday, October 14th. ValuEngine cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Barrington Research boosted their price target on Varian Medical Systems from $146.00 to $152.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Zacks Investment Research cut Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a research report on Saturday, July 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Varian Medical Systems presently has an average rating of “Buy” and an average target price of $145.11.

VAR stock traded up $1.62 during trading on Friday, hitting $125.08. The company had a trading volume of 13,658 shares, compared to its average volume of 665,692. The firm has a market cap of $11.27 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. Varian Medical Systems, Inc. has a 1-year low of $103.92 and a 1-year high of $142.50. The firm has a 50-day moving average price of $117.15 and a 200-day moving average price of $123.21.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.21 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.21. The firm had revenue of $878.90 million for the quarter, compared to analysts’ expectations of $858.47 million. Varian Medical Systems had a return on equity of 24.42% and a net margin of 9.65%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. As a group, research analysts forecast that Varian Medical Systems, Inc. will post 5.39 EPS for the current year.

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 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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