Legal & General Group Plc Sells 6,788 Shares of Varian Medical Systems, Inc. (VAR)

Legal & General Group Plc lessened its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 630,808 shares of the medical equipment provider’s stock after selling 6,788 shares during the period. Legal & General Group Plc owned 0.69% of Varian Medical Systems worth $63,088,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 11 shares during the period. Conning Inc. boosted its stake in Varian Medical Systems by 1.3% during the 2nd quarter. Conning Inc. now owns 2,381 shares of the medical equipment provider’s stock valued at $246,000 after purchasing an additional 30 shares during the period. Burney Co. boosted its stake in Varian Medical Systems by 0.3% during the 2nd quarter. Burney Co. now owns 14,604 shares of the medical equipment provider’s stock valued at $1,500,000 after purchasing an additional 37 shares during the period. People s United Financial Inc. boosted its stake in Varian Medical Systems by 0.6% during 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 purchasing an additional 40 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in Varian Medical Systems by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 3,480 shares of the medical equipment provider’s stock valued at $359,000 after purchasing an additional 50 shares during the period. 99.15% of the stock is owned by institutional investors and hedge funds.

Shares of Varian Medical Systems, Inc. (VAR) traded down $2.85 during trading hours on Tuesday, hitting $109.56. 946,800 shares of the stock were exchanged, compared to its average volume of 867,071. The firm has a market cap of $10,298.66, a price-to-earnings ratio of 29.82, a P/E/G ratio of 3.30 and a beta of 0.67. Varian Medical Systems, Inc. has a 12 month low of $76.94 and a 12 month high of $113.58.

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

In related news, Director R Andrew Eckert sold 5,651 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $102.39, for a total value of $578,605.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dow R. Wilson sold 15,059 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $105.41, for a total transaction of $1,587,369.19. Following the completion of the sale, the insider now owns 81,835 shares in the company, valued at $8,626,227.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,830 shares of company stock valued at $4,350,109. Company insiders own 0.91% of the company’s stock.

A number of research firms have issued reports on VAR. 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. BidaskClub raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Citigroup boosted their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Royal Bank Of Canada set a $105.00 target price on shares of Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday, November 30th. Finally, Robert W. Baird reissued a “hold” rating and set a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $98.39.

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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.

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

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