Toronto Dominion Bank Raises Stock Holdings in Varian Medical Systems, Inc. (NYSE:VAR)

Toronto Dominion Bank lifted its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 18.2% in the 2nd quarter, Holdings Channel reports. The firm owned 74,653 shares of the medical equipment provider’s stock after acquiring an additional 11,498 shares during the period. Toronto Dominion Bank’s holdings in Varian Medical Systems were worth $10,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of VAR. Geode Capital Management LLC grew its holdings in shares of Varian Medical Systems by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 1,259,504 shares of the medical equipment provider’s stock worth $142,479,000 after purchasing an additional 84,116 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Varian Medical Systems by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 355,174 shares of the medical equipment provider’s stock worth $40,242,000 after purchasing an additional 12,271 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Varian Medical Systems by 1,791.9% during the first quarter. Victory Capital Management Inc. now owns 25,540 shares of the medical equipment provider’s stock worth $3,620,000 after purchasing an additional 24,190 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Varian Medical Systems by 2.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 9,216 shares of the medical equipment provider’s stock worth $1,306,000 after purchasing an additional 217 shares in the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Varian Medical Systems during the first quarter worth about $227,000. 91.31% of the stock is owned by institutional investors.

NYSE:VAR traded down $2.16 during mid-day trading on Friday, reaching $117.39. The stock had a trading volume of 1,146,688 shares, compared to its average volume of 740,902. The firm has a 50 day moving average price of $111.21 and a two-hundred day moving average price of $128.77. The stock has a market capitalization of $10.89 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.23 and a beta of 0.87. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $142.50.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.18. The company had revenue of $825.80 million during the quarter, compared to the consensus estimate of $762.29 million. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. Varian Medical Systems’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. Equities research analysts anticipate that Varian Medical Systems, Inc. will post 4.62 earnings per share for the current year.

In other Varian Medical Systems news, Director Timothy E. Guertin sold 12,651 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $135.21, for a total value of $1,710,541.71. Following the completion of the sale, the director now owns 13,589 shares in the company, valued at $1,837,368.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Kuo sold 465 shares of the business’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 value of $61,101.00. Following the completion of the sale, the senior vice president now owns 35,566 shares of the company’s stock, valued at approximately $4,673,372.40. The disclosure for this sale can be found here. Insiders sold 72,063 shares of company stock valued at $9,586,118 in the last quarter. Corporate insiders own 0.78% of the company’s stock.

Several brokerages have recently commented on VAR. Zacks Investment Research lowered Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a report on Saturday, July 27th. ValuEngine downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research report on Wednesday, July 24th. TheStreet downgraded Varian Medical Systems from a “b” rating to a “c+” rating in a research report on Monday, August 5th. Finally, Robert W. Baird set a $158.00 target price on Varian Medical Systems and gave the stock a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target 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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Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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