Janney Montgomery Scott LLC lowered its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 42.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,560 shares of the medical equipment provider’s stock after selling 10,132 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Varian Medical Systems were worth $2,332,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of VAR. Aigen Investment Management LP purchased a new position in Varian Medical Systems in the third quarter worth $27,000. FNY Investment Advisers LLC bought a new stake in Varian Medical Systems during the third quarter worth about $27,000. CWM LLC boosted its holdings in shares of Varian Medical Systems by 76.1% in the 3rd quarter. CWM LLC now owns 199 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 86 shares in the last quarter. Ovata Capital Management Ltd bought a new position in shares of Varian Medical Systems during the 2nd quarter valued at about $25,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Varian Medical Systems during the 2nd quarter valued at about $29,000. 92.32% of the stock is owned by institutional investors.
A number of research analysts have commented on the stock. Robert W. Baird cut shares of Varian Medical Systems from an “outperform” rating to a “neutral” rating and set a $178.00 price target on the stock. in a research report on Wednesday, October 28th. Barrington Research cut shares of Varian Medical Systems from an “outperform” rating to an “underperform” rating in a research report on Wednesday, October 28th. UBS Group lowered shares of Varian Medical Systems to an “in-line” rating in a research report on Tuesday. Jefferies Financial Group boosted their target price on Varian Medical Systems from $130.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, BTIG Research cut Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Monday, August 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Varian Medical Systems presently has an average rating of “Hold” and a consensus price target of $145.55.
In related news, insider Kolleen T. Kennedy sold 543 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $171.91, for a total value of $93,347.13. Following the completion of the transaction, the insider now directly owns 27,661 shares of the company’s stock, valued at $4,755,202.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kolleen T. Kennedy sold 400 shares of Varian Medical Systems stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $173.70, for a total value of $69,480.00. Following the sale, the insider now directly owns 27,518 shares in the company, valued at $4,779,876.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,286 shares of company stock valued at $395,288. 0.78% of the stock is owned by corporate insiders.
Varian Medical Systems stock opened at $173.51 on Friday. The firm has a market cap of $15.78 billion, a P/E ratio of 56.52 and a beta of 1.16. Varian Medical Systems, Inc. has a 1-year low of $89.62 and a 1-year high of $176.19. The firm has a 50-day moving average of $172.59 and a 200-day moving average of $149.79.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Tuesday, October 27th. The medical equipment provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.14. Varian Medical Systems had a return on equity of 19.68% and a net margin of 8.82%. During the same period in the previous year, the company posted $1.21 earnings per share. Sell-side analysts anticipate that Varian Medical Systems, Inc. will post 3.77 earnings per share for the current 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 in Oncology Systems and Proton Solutions segments. 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 quality assurance equipment.
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