Bank of Hawaii Sells 825 Shares of Varian Medical Systems, Inc. (VAR)

Bank of Hawaii lessened its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,678 shares of the medical equipment provider’s stock after selling 825 shares during the quarter. Bank of Hawaii’s holdings in Varian Medical Systems were worth $965,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. WASHINGTON TRUST Co increased its holdings in shares of Varian Medical Systems by 100.0% in the fourth quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock valued at $108,000 after purchasing an additional 485 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Varian Medical Systems by 3,418.8% in the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock valued at $188,000 after purchasing an additional 1,641 shares during the last quarter. MUFG Americas Holdings Corp increased its holdings in shares of Varian Medical Systems by 45.2% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock valued at $190,000 after purchasing an additional 533 shares during the last quarter. Catawba Capital Management VA acquired a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $210,000. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Varian Medical Systems in the third quarter valued at approximately $219,000. 99.72% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kolleen T. Kennedy sold 2,018 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $111.97, for a total transaction of $225,955.46. Following the completion of the transaction, the executive vice president now directly owns 27,749 shares in the company, valued at $3,107,055.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan L. Bostrom sold 1,952 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $120.60, for a total value of $235,411.20. Following the transaction, the director now owns 3,809 shares of the company’s stock, valued at $459,365.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,118 shares of company stock valued at $18,121,721. Company insiders own 0.78% of the company’s stock.

VAR has been the subject of several recent research reports. Royal Bank of Canada set a $105.00 price target on Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, November 30th. TheStreet lowered Varian Medical Systems from a “b+” rating to a “c” rating in a research report on Monday, February 12th. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Evercore ISI began coverage on Varian Medical Systems in a research report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 price objective for the company. Finally, Citigroup increased their price objective on 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $108.44.

Varian Medical Systems, Inc. (NYSE:VAR) opened at $121.17 on Friday. The firm has a market capitalization of $11,080.00, a P/E ratio of 33.20, a P/E/G ratio of 3.48 and a beta of 0.81. Varian Medical Systems, Inc. has a 52-week low of $83.54 and a 52-week high of $130.29.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.06. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The company had revenue of $678.50 million during the quarter, compared to analyst estimates of $633.96 million. During the same period in the prior year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. analysts expect that Varian Medical Systems, Inc. will post 4.31 EPS for the current fiscal year.

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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.

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

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