Virtu Financial LLC purchased a new position in Varian Medical Systems (NYSE:VAR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,691 shares of the medical equipment provider’s stock, valued at approximately $299,000.
Several other institutional investors and hedge funds also recently modified their holdings of VAR. American Century Companies Inc. raised its holdings in Varian Medical Systems by 313.9% in the 4th quarter. American Century Companies Inc. now owns 568,237 shares of the medical equipment provider’s stock worth $63,160,000 after acquiring an additional 430,934 shares during the last quarter. Renaissance Group LLC purchased a new position in Varian Medical Systems in the 3rd quarter worth approximately $31,822,000. Alyeska Investment Group L.P. purchased a new position in Varian Medical Systems in the 3rd quarter worth approximately $24,607,000. JPMorgan Chase & Co. raised its holdings in Varian Medical Systems by 199.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 350,523 shares of the medical equipment provider’s stock worth $34,958,000 after acquiring an additional 233,547 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Varian Medical Systems by 15.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,134,054 shares of the medical equipment provider’s stock worth $113,474,000 after acquiring an additional 155,954 shares during the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on VAR shares. TheStreet lowered shares of Varian Medical Systems from a “b+” rating to a “c” rating in a report on Monday, February 12th. Evercore ISI initiated coverage on shares of Varian Medical Systems in a report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 price objective for the company. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. ValuEngine upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase boosted their target price on shares of Varian Medical Systems from $88.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $111.80.
Shares of VAR opened at $117.64 on Friday. Varian Medical Systems has a 1-year low of $87.49 and a 1-year high of $130.29. The firm has a market cap of $10,929.55, a price-to-earnings ratio of 32.68, a P/E/G ratio of 3.47 and a beta of 0.82.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.06. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. The firm had revenue of $678.50 million during the quarter, compared to the consensus estimate of $633.96 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. equities research analysts predict that Varian Medical Systems will post 4.31 earnings per share for the current year.
In related news, Director Susan L. Bostrom sold 1,952 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $120.60, for a total value of $235,411.20. Following the completion of the transaction, the director now owns 3,809 shares of the company’s stock, valued at approximately $459,365.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kolleen T. Kennedy sold 699 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $126.47, for a total transaction of $88,402.53. Following the completion of the transaction, the executive vice president now directly owns 27,361 shares of the company’s stock, valued at approximately $3,460,345.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,568 shares of company stock valued at $10,905,313. Insiders own 0.78% of the company’s stock.
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Varian Medical Systems Company 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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