Great West Life Assurance Co. Can decreased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 7.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 88,047 shares of the medical equipment provider’s stock after selling 6,972 shares during the period. Great West Life Assurance Co. Can’s holdings in Varian Medical Systems were worth $9,863,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of VAR. Piedmont Investment Advisors LLC acquired a new stake in Varian Medical Systems in the second quarter valued at $118,000. Itau Unibanco Holding S.A. acquired a new stake in Varian Medical Systems in the second quarter valued at $137,000. NumerixS Investment Technologies Inc acquired a new stake in Varian Medical Systems in the second quarter valued at $156,000. Stratos Wealth Partners LTD. acquired a new stake in Varian Medical Systems in the third quarter valued at $163,000. Finally, Zions Bancorporation acquired a new stake in Varian Medical Systems in the second quarter valued at $196,000. 96.06% of the stock is currently owned by institutional investors.
Shares of NYSE:VAR opened at $120.84 on Friday. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $130.29. The firm has a market capitalization of $11.06 billion, a PE ratio of 27.34, a P/E/G ratio of 3.24 and a beta of 0.62.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.04). Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The company had revenue of $801.60 million during the quarter, compared to analysts’ expectations of $766.26 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Varian Medical Systems, Inc. will post 4.69 EPS for the current fiscal year.
In other 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 value of $101,602.80. Following the sale, the senior vice president now directly owns 1,000 shares in the company, valued at $120,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John W. Kuo sold 465 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $111.99, for a total value of $52,075.35. The disclosure for this sale can be found here. Insiders sold 7,623 shares of company stock worth $857,164 over the last 90 days. Company insiders own 0.78% of the company’s stock.
Several analysts have weighed in on VAR shares. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. JPMorgan Chase & Co. lowered their target price on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a report on Wednesday, October 24th. Robert W. Baird started coverage on Varian Medical Systems in a report on Friday, October 19th. They issued a “neutral” rating and a $119.00 target price on the stock. Citigroup upped their target price on Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, October 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus target price of $121.56.
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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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