Varian Medical Systems, Inc. (VAR) Shares Sold by First Manhattan Co.

First Manhattan Co. cut its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,925 shares of the medical equipment provider’s stock after selling 700 shares during the quarter. First Manhattan Co.’s holdings in Varian Medical Systems were worth $692,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Varian Medical Systems by 1.7% during the second quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after acquiring an additional 150,482 shares during the last quarter. BlackRock Inc. increased its stake in Varian Medical Systems by 6.6% during the second quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock worth $869,233,000 after acquiring an additional 523,858 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Varian Medical Systems by 0.8% during the second quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock worth $482,875,000 after acquiring an additional 38,005 shares during the last quarter. Janus Henderson Group PLC increased its stake in Varian Medical Systems by 1,545.7% during the second quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock worth $387,450,000 after acquiring an additional 3,526,571 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in Varian Medical Systems by 12.0% during the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after acquiring an additional 269,633 shares during the last quarter. Institutional investors own 99.15% of the company’s stock.

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Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub raised Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a research report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a research report on Friday, September 1st. Finally, BTIG Research downgraded 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.83.

In related news, EVP Kolleen T. Kennedy sold 1,088 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $107.33, for a total value of $116,775.04. Following the completion of the transaction, the executive vice president now owns 27,688 shares of the company’s stock, valued at $2,971,753.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dow R. Wilson sold 15,059 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at approximately $7,895,440.80. The disclosure for this sale can be found here. Insiders sold 56,887 shares of company stock valued at $5,790,308 in the last three months. 0.91% of the stock is currently owned by company insiders.

Varian Medical Systems, Inc. (NYSE VAR) opened at $106.09 on Friday. The firm has a market cap of $9,608.80, a P/E ratio of 27.76, a PEG ratio of 3.07 and a beta of 0.65. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.18.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. analysts anticipate that Varian Medical Systems, Inc. will post 4.26 earnings per share for the current fiscal year.

Varian Medical Systems Company Profile

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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