State of Tennessee Treasury Department Increases Holdings in Varian Medical Systems, Inc. (VAR)

State of Tennessee Treasury Department raised its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 126.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,843 shares of the medical equipment provider’s stock after buying an additional 42,370 shares during the period. State of Tennessee Treasury Department owned about 0.08% of Varian Medical Systems worth $7,589,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in VAR. State of Wisconsin Investment Board boosted its position in shares of Varian Medical Systems by 5.0% in the third quarter. State of Wisconsin Investment Board now owns 85,312 shares of the medical equipment provider’s stock worth $8,536,000 after purchasing an additional 4,025 shares during the period. Stevens Capital Management LP bought a new position in shares of Varian Medical Systems in the third quarter worth approximately $8,888,000. Chicago Equity Partners LLC boosted its position in shares of Varian Medical Systems by 14.5% in the third quarter. Chicago Equity Partners LLC now owns 33,770 shares of the medical equipment provider’s stock worth $3,379,000 after purchasing an additional 4,275 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of Varian Medical Systems by 431.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 812,983 shares of the medical equipment provider’s stock worth $81,347,000 after purchasing an additional 659,868 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Varian Medical Systems by 5.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,575 shares of the medical equipment provider’s stock worth $1,658,000 after purchasing an additional 794 shares during the period. 99.81% of the stock is owned by institutional investors and hedge funds.

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A number of research firms have weighed in on VAR. BidaskClub lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Robert W. Baird reiterated a “hold” rating and issued a $99.00 price target on shares of Varian Medical Systems in a research report on Monday, August 28th. BTIG Research lowered shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a research report on Friday, September 1st. Finally, Citigroup Inc. upped their price target on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Varian Medical Systems currently has an average rating of “Hold” and a consensus target price of $97.83.

Varian Medical Systems, Inc. (NYSE:VAR) opened at $107.55 on Friday. Varian Medical Systems, Inc. has a 12-month low of $76.94 and a 12-month high of $108.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market cap of $9,873.20, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 3.16 and a beta of 0.65.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business had revenue of $739.00 million for the quarter, compared to the consensus estimate of $741.69 million. During the same quarter last year, the business earned $1.03 EPS. Varian Medical Systems’s revenue for the quarter was down 1.1% compared to the same quarter last year. equities research analysts forecast that Varian Medical Systems, Inc. will post 4.26 EPS for the current fiscal year.

In other news, EVP Kolleen T. Kennedy sold 931 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $105.00, for a total value of $97,755.00. Following the sale, the executive vice president now owns 27,531 shares of the company’s stock, valued at $2,890,755. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $97.91, for a total transaction of $106,526.08. Following the completion of the sale, the executive vice president now directly owns 26,600 shares in the company, valued at approximately $2,604,406. The disclosure for this sale can be found here. In the last three months, insiders sold 41,828 shares of company stock worth $4,337,416. Insiders own 0.91% of the company’s stock.

About Varian Medical Systems

Varian Medical Systems, Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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