Texas Yale Capital Corp. lessened its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 50.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,465 shares of the medical equipment provider’s stock after selling 12,465 shares during the period. Texas Yale Capital Corp.’s holdings in Varian Medical Systems were worth $1,697,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of VAR. FMR LLC lifted its stake in shares of Varian Medical Systems by 245.7% during the 1st quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock valued at $184,244,000 after buying an additional 923,949 shares in the last quarter. BlackRock Inc. increased its holdings in Varian Medical Systems by 10.5% in the 1st quarter. BlackRock Inc. now owns 7,997,119 shares of the medical equipment provider’s stock valued at $1,133,353,000 after acquiring an additional 760,049 shares during the last quarter. Norges Bank bought a new stake in Varian Medical Systems in the 4th quarter valued at $82,958,000. First Trust Advisors LP increased its holdings in Varian Medical Systems by 4,724.5% in the 1st quarter. First Trust Advisors LP now owns 316,002 shares of the medical equipment provider’s stock valued at $44,784,000 after acquiring an additional 309,452 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Varian Medical Systems by 23.3% in the 1st quarter. California Public Employees Retirement System now owns 585,040 shares of the medical equipment provider’s stock valued at $82,912,000 after acquiring an additional 110,568 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.
Shares of Varian Medical Systems stock traded down $2.89 during trading hours on Monday, reaching $113.42. The company’s stock had a trading volume of 15,592 shares, compared to its average volume of 671,923. The business’s 50 day simple moving average is $132.45. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $142.50. The stock has a market cap of $10.46 billion, a PE ratio of 25.63, a P/E/G ratio of 3.15 and a beta of 0.85.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. The company had revenue of $825.80 million for the quarter, compared to the consensus estimate of $762.29 million. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.92%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Sell-side analysts anticipate that Varian Medical Systems, Inc. will post 4.62 EPS for the current year.
A number of brokerages have issued reports on VAR. Citigroup reduced their price target on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird set a $158.00 price target on shares of Varian Medical Systems and gave the company a “buy” rating in a report on Friday, July 26th. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a report on Wednesday, July 24th. Barrington Research reiterated a “buy” rating and issued a $142.00 price target on shares of Varian Medical Systems in a report on Thursday, July 25th. Finally, Zacks Investment Research downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $141.22.
In related news, insider Kolleen T. Kennedy sold 544 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $134.49, for a total transaction of $73,162.56. Following the sale, the insider now directly owns 27,634 shares of the company’s stock, valued at $3,716,496.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gary E. Bischoping, Jr. sold 56,232 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $132.56, for a total transaction of $7,454,113.92. Following the sale, the senior vice president now directly owns 27,393 shares in the company, valued at $3,631,216.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,393 shares of company stock valued at $10,032,731. 0.74% of the stock is owned by corporate insiders.
Varian Medical Systems 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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.
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