Compton Capital Management Inc. RI cut its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,960 shares of the medical equipment provider’s stock after selling 800 shares during the period. Varian Medical Systems comprises about 1.3% of Compton Capital Management Inc. RI’s holdings, making the stock its 21st biggest holding. Compton Capital Management Inc. RI’s holdings in Varian Medical Systems were worth $2,989,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of VAR. Arrow Financial Corp acquired a new position in Varian Medical Systems during the second quarter worth $27,000. Permanens Capital L.P. acquired a new position in Varian Medical Systems during the first quarter worth $28,000. Quantamental Technologies LLC acquired a new position in Varian Medical Systems during the second quarter worth $29,000. Financial Gravity Wealth Inc. raised its position in Varian Medical Systems by 1,646.2% during the second quarter. Financial Gravity Wealth Inc. now owns 227 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 214 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in Varian Medical Systems during the second quarter worth $32,000. Institutional investors own 91.31% of the company’s stock.
In other Varian Medical Systems news, SVP John W. Kuo sold 465 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $131.40, for a total transaction of $61,101.00. Following the sale, the senior vice president now owns 35,566 shares of the company’s stock, valued at $4,673,372.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy E. Guertin sold 12,651 shares of Varian Medical Systems stock in a transaction on Monday, July 15th. The shares were sold at an average price of $135.21, for a total transaction of $1,710,541.71. Following the completion of the transaction, the director now directly owns 13,589 shares in the company, valued at $1,837,368.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,063 shares of company stock worth $9,586,118. 0.78% of the stock is owned by corporate insiders.
Shares of NYSE VAR traded down $2.16 during mid-day trading on Friday, reaching $117.39. The company’s stock had a trading volume of 1,146,688 shares, compared to its average volume of 693,645. Varian Medical Systems, Inc. has a 1-year low of $101.42 and a 1-year high of $142.50. The stock has a market capitalization of $10.49 billion, a P/E ratio of 26.56, a P/E/G ratio of 3.11 and a beta of 0.87. The stock has a 50-day moving average of $111.21 and a two-hundred day moving average of $128.77.
Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.18. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.91%. The company had revenue of $825.80 million during the quarter, compared to analyst estimates of $762.29 million. During the same quarter last year, the firm posted $1.04 earnings per share. Varian Medical Systems’s revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts predict that Varian Medical Systems, Inc. will post 4.62 EPS for the current fiscal year.
VAR has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a research report on Saturday, July 27th. ValuEngine cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Barrington Research restated a “buy” rating and set a $142.00 price objective on shares of Varian Medical Systems in a research report on Thursday, July 25th. Robert W. Baird set a $158.00 target price on shares of Varian Medical Systems and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, TheStreet cut shares of Varian Medical Systems from a “b” rating to a “c+” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Varian Medical Systems currently has an average rating of “Hold” and a consensus target price of $141.22.
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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