Varian Medical Systems, Inc. (VAR) Position Cut by Bbva Compass Bancshares Inc.

Bbva Compass Bancshares Inc. reduced its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,156 shares of the medical equipment provider’s stock after selling 1,140 shares during the period. Bbva Compass Bancshares Inc. owned approximately 0.06% of Varian Medical Systems worth $5,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Manchester Capital Management LLC increased its position in Varian Medical Systems by 16.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 150 shares in the last quarter. Parallel Advisors LLC increased its position in Varian Medical Systems by 10.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,357 shares of the medical equipment provider’s stock valued at $132,000 after buying an additional 125 shares in the last quarter. Penserra Capital Management LLC increased its position in Varian Medical Systems by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock valued at $187,000 after buying an additional 210 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Varian Medical Systems by 0.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after buying an additional 11 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Varian Medical Systems by 8.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock valued at $202,000 after buying an additional 145 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors.

In related news, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $97.91, for a total transaction of $106,526.08. Following the completion of the transaction, the executive vice president now directly owns 26,600 shares in the company, valued at approximately $2,604,406. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dow R. Wilson sold 15,059 shares of Varian Medical Systems stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $96.48, for a total value of $1,452,892.32. Following the transaction, the insider now owns 81,835 shares of the company’s stock, valued at $7,895,440.80. The disclosure for this sale can be found here. Insiders have sold a total of 56,887 shares of company stock worth $5,790,308 in the last three months. Corporate insiders own 0.91% of the company’s stock.

Several brokerages recently issued reports on VAR. BTIG Research lowered Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Citigroup Inc. upped their target price on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $100.00 target price on shares of Varian Medical Systems in a research report on Friday, September 1st. Zacks Investment Research lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Varian Medical Systems in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $97.83.

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Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.10). The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $741.69 million. Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. Varian Medical Systems’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS.

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.

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

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