Kovitz Investment Group Partners LLC Decreases Position in Varian Medical Systems (NYSE:VAR)

Kovitz Investment Group Partners LLC lessened its stake in Varian Medical Systems (NYSE:VAR) by 29.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,800 shares of the medical equipment provider’s stock after selling 3,750 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Varian Medical Systems were worth $978,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Varian Medical Systems by 3.2% in the third quarter. Victory Capital Management Inc. now owns 21,593 shares of the medical equipment provider’s stock valued at $2,161,000 after acquiring an additional 673 shares during the last quarter. State of Wisconsin Investment Board raised its holdings 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 valued at $8,536,000 after buying an additional 4,025 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Varian Medical Systems by 582.5% in the third quarter. American Century Companies Inc. now owns 137,303 shares of the medical equipment provider’s stock valued at $13,739,000 after buying an additional 117,184 shares during the last quarter. Global X MANAGEMENT CO LLC raised its holdings in shares of Varian Medical Systems by 7.8% in the third quarter. Global X MANAGEMENT CO LLC now owns 8,608 shares of the medical equipment provider’s stock valued at $861,000 after buying an additional 621 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Varian Medical Systems by 35.6% in the third quarter. Sei Investments Co. now owns 15,722 shares of the medical equipment provider’s stock valued at $1,573,000 after buying an additional 4,129 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

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A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a report on Sunday, January 28th. Royal Bank of Canada upped their price target on shares of Varian Medical Systems to $115.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. JPMorgan Chase upped their price objective 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. Finally, ValuEngine raised shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Varian Medical Systems currently has an average rating of “Hold” and an average target price of $111.80.

VAR stock traded down $2.83 during mid-day trading on Friday, hitting $117.64. 575,865 shares of the company were exchanged, compared to its average volume of 506,532. The firm has a market cap of $10,998.94, a P/E ratio of 32.68, a P/E/G ratio of 3.50 and a beta of 0.82. Varian Medical Systems has a twelve month low of $87.49 and a twelve month high of $130.29.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $678.50 million during the quarter, compared to analyst estimates of $633.96 million. During the same period last year, the business earned $1.09 EPS. The firm’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 fiscal year.

In other Varian Medical Systems news, Director Susan L. Bostrom sold 1,952 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $120.60, for a total transaction of $235,411.20. Following the transaction, the director now owns 3,809 shares of the company’s stock, valued at approximately $459,365.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John W. Kuo sold 1,328 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $125.51, for a total transaction of $166,677.28. Following the completion of the transaction, the senior vice president now directly owns 30,708 shares in the company, valued at approximately $3,854,161.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,568 shares of company stock worth $10,905,313. Insiders own 0.78% of the company’s stock.

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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 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.

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

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