Eagle Ridge Investment Management Has $8.87 Million Stock Position in Varian Medical Systems, Inc. (NYSE:VAR)

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Eagle Ridge Investment Management lifted its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 0.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 65,183 shares of the medical equipment provider’s stock after buying an additional 142 shares during the quarter. Varian Medical Systems makes up about 1.3% of Eagle Ridge Investment Management’s holdings, making the stock its 26th biggest holding. Eagle Ridge Investment Management’s holdings in Varian Medical Systems were worth $8,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stephens Investment Management Group LLC increased its holdings in Varian Medical Systems by 6.3% during the 2nd quarter. Stephens Investment Management Group LLC now owns 19,586 shares of the medical equipment provider’s stock valued at $2,666,000 after purchasing an additional 1,161 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Varian Medical Systems by 56.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 210,354 shares of the medical equipment provider’s stock valued at $28,123,000 after purchasing an additional 76,056 shares in the last quarter. TD Asset Management Inc. increased its holdings in Varian Medical Systems by 150.7% during the 2nd quarter. TD Asset Management Inc. now owns 190,218 shares of the medical equipment provider’s stock valued at $25,894,000 after purchasing an additional 114,352 shares in the last quarter. Keybank National Association OH increased its holdings in Varian Medical Systems by 52.3% during the 2nd quarter. Keybank National Association OH now owns 6,134 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Stevens Capital Management LP increased its holdings in Varian Medical Systems by 249.5% during the 2nd quarter. Stevens Capital Management LP now owns 55,070 shares of the medical equipment provider’s stock valued at $7,497,000 after purchasing an additional 39,313 shares in the last quarter. 91.15% of the stock is owned by institutional investors and hedge funds.

VAR has been the subject of a number of recent analyst reports. Citigroup dropped their price target on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Barrington Research reaffirmed a “buy” rating and set a $142.00 price target on shares of Varian Medical Systems in a report on Thursday, July 25th. Zacks Investment Research cut Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price target for the company. in a report on Saturday, July 27th. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a report on Wednesday, July 24th. Finally, TheStreet cut Varian Medical Systems from a “b” rating to a “c+” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $141.22.

VAR traded up $0.32 during mid-day trading on Thursday, reaching $107.85. The stock had a trading volume of 19,489 shares, compared to its average volume of 746,446. The company has a market cap of $9.98 billion, a PE ratio of 24.45, a P/E/G ratio of 2.96 and a beta of 0.84. The stock has a fifty day moving average price of $127.18. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $142.50.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.18. The firm had revenue of $825.80 million for the quarter, compared to analyst estimates of $762.29 million. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. As a group, research analysts expect that Varian Medical Systems, Inc. will post 4.62 earnings per share for the current year.

In other Varian Medical Systems news, insider Kolleen T. Kennedy sold 1,242 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $137.99, for a total value of $171,383.58. Following the transaction, the insider now directly owns 27,633 shares in the company, valued at approximately $3,813,077.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gary E. Bischoping, Jr. sold 845 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $127.94, for a total value of $108,109.30. Following the completion of the transaction, the chief financial officer now owns 2,283 shares in the company, valued at $292,087.02. The disclosure for this sale can be found here. Insiders sold a total of 73,685 shares of company stock worth $9,806,184 over the last quarter. Corporate insiders own 0.78% of the company’s stock.

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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