Eagle Ridge Investment Management Increases Holdings in Varian Medical Systems, Inc. (VAR)

Eagle Ridge Investment Management raised its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,345 shares of the medical equipment provider’s stock after buying an additional 981 shares during the quarter. Eagle Ridge Investment Management owned about 0.07% of Varian Medical Systems worth $6,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VAR. Janus Henderson Group PLC lifted its stake in Varian Medical Systems by 1,545.7% in the second quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock valued at $387,450,000 after buying an additional 3,526,571 shares in the last quarter. Koch Industries Inc. lifted its stake in Varian Medical Systems by 57,988.4% in the second quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock valued at $1,315,000 after buying an additional 1,325,615 shares in the last quarter. APG Asset Management N.V. lifted its stake in Varian Medical Systems by 106.1% in the third quarter. APG Asset Management N.V. now owns 1,669,419 shares of the medical equipment provider’s stock valued at $167,042,000 after buying an additional 859,400 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Varian Medical Systems in the second quarter valued at approximately $77,323,000. Finally, York Capital Management Global Advisors LLC bought a new position in Varian Medical Systems in the second quarter valued at approximately $58,200,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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Varian Medical Systems, Inc. (VAR) traded down 2.29% during mid-day trading on Monday, hitting $103.91. 190,697 shares of the stock were exchanged. Varian Medical Systems, Inc. has a 1-year low of $75.20 and a 1-year high of $108.78. The company has a market capitalization of $9.54 billion, a PE ratio of 34.20 and a beta of 0.57. The stock has a 50 day moving average price of $104.24 and a 200 day moving average price of $100.42.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $741.69 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. Varian Medical Systems’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Varian Medical Systems, Inc. will post $4.35 earnings per share for the current fiscal year.

A number of brokerages have weighed in on VAR. Robert W. Baird reaffirmed a “neutral” rating and issued a $99.00 price target (up previously from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BTIG Research lowered shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, September 7th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Varian Medical Systems currently has an average rating of “Hold” and a consensus price target of $94.94.

In related news, Director R Andrew Eckert sold 5,651 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $102.39, for a total value of $578,605.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dow R. Wilson sold 15,059 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $96.48, for a total value of $1,452,892.32. Following the completion of the sale, the insider now directly owns 81,835 shares of the company’s stock, valued at $7,895,440.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,887 shares of company stock worth $5,790,308. 0.91% of the stock is owned by company insiders.

About Varian Medical Systems

Varian Medical Systems, Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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