Millennium Management LLC Raises Holdings in Varian Medical Systems, Inc. (VAR)

Millennium Management LLC grew its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 842.3% during the 1st quarter, Holdings Channel reports. The firm owned 256,392 shares of the medical equipment provider’s stock after buying an additional 229,184 shares during the quarter. Millennium Management LLC’s holdings in Varian Medical Systems were worth $31,446,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of VAR. Point72 Asia Hong Kong Ltd purchased a new position in shares of Varian Medical Systems during the first quarter worth about $100,000. Signaturefd LLC purchased a new position in shares of Varian Medical Systems during the first quarter worth about $106,000. Ladenburg Thalmann Financial Services Inc. grew its holdings 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 purchasing an additional 427 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Varian Medical Systems during the first quarter worth about $245,000. Finally, IBM Retirement Fund purchased a new position in shares of Varian Medical Systems during the first quarter worth about $248,000. 93.65% of the stock is currently owned by institutional investors.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 699 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $120.33, for a total value of $84,110.67. Following the sale, the executive vice president now owns 27,361 shares of the company’s stock, valued at approximately $3,292,349.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John W. Kuo sold 1,329 shares of Varian Medical Systems stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $122.55, for a total value of $162,868.95. Following the completion of the sale, the senior vice president now directly owns 30,950 shares in the company, valued at approximately $3,792,922.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,382 shares of company stock worth $646,996. Corporate insiders own 0.78% of the company’s stock.

VAR has been the topic of several research reports. Zacks Investment Research lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. ValuEngine raised Varian Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Royal Bank of Canada set a $115.00 price target on Varian Medical Systems and gave the stock a “hold” rating in a report on Tuesday, April 10th. Finally, TheStreet raised Varian Medical Systems from a “c” rating to a “b” rating in a report on Wednesday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus target price of $115.13.

NYSE VAR opened at $117.24 on Wednesday. Varian Medical Systems, Inc. has a 52-week low of $95.23 and a 52-week high of $130.29. The stock has a market cap of $10.83 billion, a P/E ratio of 32.57, a P/E/G ratio of 3.30 and a beta of 0.85.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $685.86 million. During the same quarter last year, the company posted $0.89 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. analysts expect that Varian Medical Systems, Inc. will post 4.48 EPS for the current year.

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.

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply