Assetmark Inc. Sells 31,707 Shares of Varian Medical Systems, Inc. (VAR)

Assetmark Inc. reduced its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 95.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,364 shares of the medical equipment provider’s stock after selling 31,707 shares during the period. Assetmark Inc.’s holdings in Varian Medical Systems were worth $167,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VAR. Point72 Asia Hong Kong Ltd acquired a new position in shares of Varian Medical Systems during the first quarter worth about $100,000. Signaturefd LLC acquired a new position in shares of Varian Medical Systems during the first quarter worth about $106,000. Advisory Services Network LLC boosted its position in shares of Varian Medical Systems by 3,418.8% during the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after buying an additional 1,641 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Varian Medical Systems by 27.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock worth $218,000 after buying an additional 427 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Varian Medical Systems during the first quarter worth about $245,000. 93.51% of the stock is owned by institutional investors.

Shares of NYSE VAR opened at $117.24 on Friday. Varian Medical Systems, Inc. has a 52 week low of $95.23 and a 52 week high of $130.29. The company has a market cap of $11.08 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.36 and a beta of 0.85.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.04 by $0.11. Varian Medical Systems had a return on equity of 27.99% and a net margin of 4.77%. The firm had revenue of $729.90 million during the quarter, compared to analysts’ expectations of $685.86 million. During the same period in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. equities analysts predict that Varian Medical Systems, Inc. will post 4.51 EPS for the current fiscal year.

Several research analysts have recently weighed in on VAR shares. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. ValuEngine raised Varian Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Royal Bank of Canada set a $115.00 price objective on Varian Medical Systems and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Finally, TheStreet raised Varian Medical Systems from a “c” rating to a “b” rating in a research report on Wednesday, April 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $115.13.

In related news, EVP Kolleen T. Kennedy sold 699 shares of the stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $120.33, for a total transaction of $84,110.67. Following the completion of the transaction, the executive vice president now directly owns 27,361 shares of the company’s stock, valued at $3,292,349.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Kuo sold 1,327 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $117.15, for a total value of $155,458.05. Following the completion of the sale, the senior vice president now owns 30,551 shares in the company, valued at approximately $3,579,049.65. The disclosure for this sale can be found here. Insiders have sold 5,382 shares of company stock valued at $646,996 over the last three months. Insiders own 0.78% of the company’s stock.

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.

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

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