Raymond James & Associates Acquires 4,247 Shares of Varian Medical Systems, Inc. (VAR)

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Raymond James & Associates boosted its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,236 shares of the medical equipment provider’s stock after buying an additional 4,247 shares during the quarter. Raymond James & Associates owned approximately 0.11% of Varian Medical Systems worth $11,058,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BB&T Securities LLC increased its position in shares of Varian Medical Systems by 9.3% in the 2nd quarter. BB&T Securities LLC now owns 23,481 shares of the medical equipment provider’s stock valued at $2,669,000 after buying an additional 2,004 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in Varian Medical Systems by 17.6% during the 2nd quarter. AMP Capital Investors Ltd now owns 43,269 shares of the medical equipment provider’s stock worth $4,920,000 after purchasing an additional 6,467 shares in the last quarter. Laurion Capital Management LP increased its holdings in Varian Medical Systems by 2.1% during the 2nd quarter. Laurion Capital Management LP now owns 40,243 shares of the medical equipment provider’s stock worth $4,576,000 after purchasing an additional 828 shares in the last quarter. Rampart Investment Management Company LLC increased its holdings in Varian Medical Systems by 99.6% during the 2nd quarter. Rampart Investment Management Company LLC now owns 7,425 shares of the medical equipment provider’s stock worth $844,000 after purchasing an additional 3,705 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in Varian Medical Systems by 87.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,456 shares of the medical equipment provider’s stock worth $507,000 after purchasing an additional 2,085 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

VAR has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Royal Bank of Canada set a $115.00 target price on shares of Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday, October 4th. Finally, JPMorgan Chase & Co. downgraded shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research note on Thursday, June 28th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus price target of $117.43.

Shares of VAR traded up $1.32 during mid-day trading on Friday, hitting $105.29. 885,531 shares of the company’s stock were exchanged, compared to its average volume of 678,674. Varian Medical Systems, Inc. has a 52 week low of $99.00 and a 52 week high of $130.29. The stock has a market capitalization of $10.25 billion, a PE ratio of 29.25, a P/E/G ratio of 3.15 and a beta of 0.78.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $709.10 million for the quarter, compared to analysts’ expectations of $663.19 million. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts forecast that Varian Medical Systems, Inc. will post 4.45 EPS for the current year.

In other Varian Medical Systems news, CAO Magnus Momsen sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $111.68, for a total value of $312,704.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John W. Kuo sold 1,327 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $110.90, for a total transaction of $147,164.30. Following the completion of the sale, the senior vice president now owns 30,551 shares in the company, valued at approximately $3,388,105.90. The disclosure for this sale can be found here. Insiders sold 16,516 shares of company stock worth $1,836,970 over the last three months. 0.78% of the stock is currently owned by insiders.

Varian Medical Systems 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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