SFE Investment Counsel Has $3.60 Million Holdings in Varian Medical Systems, Inc. (VAR)

SFE Investment Counsel lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 11.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,959 shares of the medical equipment provider’s stock after selling 4,811 shares during the quarter. Varian Medical Systems accounts for 1.5% of SFE Investment Counsel’s investment portfolio, making the stock its 23rd largest holding. SFE Investment Counsel’s holdings in Varian Medical Systems were worth $3,598,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC grew its stake in shares of Varian Medical Systems by 0.4% during the 2nd quarter. Park Avenue Securities LLC now owns 2,276 shares of the medical equipment provider’s stock worth $234,000 after purchasing an additional 9 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $197,000 after purchasing an additional 11 shares during the period. Conning Inc. grew its stake in Varian Medical Systems by 1.3% in the 2nd quarter. Conning Inc. now owns 2,381 shares of the medical equipment provider’s stock valued at $246,000 after acquiring an additional 30 shares during the last quarter. Burney Co. grew its stake in Varian Medical Systems by 0.3% in the 2nd quarter. Burney Co. now owns 14,604 shares of the medical equipment provider’s stock valued at $1,500,000 after acquiring an additional 37 shares during the last quarter. Finally, People s United Financial Inc. grew its stake in Varian Medical Systems by 0.6% in the 2nd quarter. People s United Financial Inc. now owns 6,279 shares of the medical equipment provider’s stock valued at $648,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 99.81% of the company’s stock.

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Varian Medical Systems, Inc. (NYSE VAR) traded down $0.83 during midday trading on Monday, reaching $105.26. 107,953 shares of the company traded hands, compared to its average volume of 834,311. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $108.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.13. The stock has a market capitalization of $9,740.00, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 3.12 and a beta of 0.65.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $741.69 million. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. sell-side analysts anticipate that Varian Medical Systems, Inc. will post 4.26 earnings per share for the current fiscal year.

In other news, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $97.91, for a total transaction of $106,526.08. Following the completion of the sale, the executive vice president now owns 26,600 shares of the company’s stock, valued at $2,604,406. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kolleen T. Kennedy sold 931 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $105.00, for a total transaction of $97,755.00. Following the sale, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at approximately $2,890,755. The disclosure for this sale can be found here. Insiders sold 41,828 shares of company stock valued at $4,337,416 in the last ninety days. 0.91% of the stock is owned by corporate insiders.

A number of brokerages recently commented on VAR. Robert W. Baird reissued a “neutral” rating and issued a $99.00 price objective (up from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. Zacks Investment Research cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BTIG Research cut 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 reissued a “hold” rating and issued a $100.00 price objective on shares of Varian Medical Systems in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $97.83.

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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