Varian Medical Systems, Inc. (VAR) Shares Sold by Chicago Equity Partners LLC

Chicago Equity Partners LLC decreased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,095 shares of the medical equipment provider’s stock after selling 4,570 shares during the quarter. Chicago Equity Partners LLC owned about 0.15% of Varian Medical Systems worth $15,345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bradley Foster & Sargent Inc. CT raised its position in shares of Varian Medical Systems by 16.5% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 3,404 shares of the medical equipment provider’s stock worth $381,000 after purchasing an additional 483 shares during the period. First Republic Investment Management Inc. raised its position in shares of Varian Medical Systems by 10.2% during the second quarter. First Republic Investment Management Inc. now owns 5,535 shares of the medical equipment provider’s stock worth $629,000 after purchasing an additional 511 shares during the period. Dynamic Technology Lab Private Ltd raised its position in shares of Varian Medical Systems by 17.3% during the second quarter. Dynamic Technology Lab Private Ltd now owns 3,987 shares of the medical equipment provider’s stock worth $454,000 after purchasing an additional 587 shares during the period. NorthCoast Asset Management LLC raised its position in shares of Varian Medical Systems by 4.7% during the second quarter. NorthCoast Asset Management LLC now owns 15,010 shares of the medical equipment provider’s stock worth $1,707,000 after purchasing an additional 672 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd raised its position in shares of Varian Medical Systems by 10.6% during the third quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 7,300 shares of the medical equipment provider’s stock worth $817,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 92.93% of the company’s stock.

A number of equities research analysts have recently issued reports on VAR shares. Citigroup boosted their target price on Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the stock a “hold” rating in a research report on Thursday, October 4th. Robert W. Baird started coverage on Varian Medical Systems in a research report on Friday, October 19th. They set a “neutral” rating and a $119.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 24th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $119.25.

In related news, SVP Gary E. Bischoping, Jr. sold 845 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total transaction of $101,602.80. Following the transaction, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at $120,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Magnus Momsen sold 2,800 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $111.68, for a total value of $312,704.00. The disclosure for this sale can be found here. Insiders have sold 20,061 shares of company stock worth $2,230,050 over the last three months. 0.78% of the stock is owned by insiders.

NYSE:VAR opened at $120.31 on Friday. The firm has a market cap of $11.01 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 3.21 and a beta of 0.64. Varian Medical Systems, Inc. has a 1-year low of $101.42 and a 1-year high of $130.29.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.04). The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $766.26 million. Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. Equities analysts predict that Varian Medical Systems, Inc. will post 4.69 EPS for the current fiscal 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.

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

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