Varian Medical Systems, Inc. (VAR) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 101,451 shares of the medical equipment provider’s stock after selling 1,910 shares during the quarter. Prudential Financial Inc.’s holdings in Varian Medical Systems were worth $11,356,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of Varian Medical Systems by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 59,502 shares of the medical equipment provider’s stock worth $6,658,000 after acquiring an additional 700 shares in the last quarter. SG Americas Securities LLC increased its stake in Varian Medical Systems by 49.1% during the 3rd quarter. SG Americas Securities LLC now owns 26,097 shares of the medical equipment provider’s stock valued at $2,921,000 after purchasing an additional 8,593 shares in the last quarter. LSV Asset Management bought a new stake in Varian Medical Systems during the 3rd quarter valued at about $238,000. ING Groep NV bought a new stake in Varian Medical Systems during the 3rd quarter valued at about $336,000. Finally, Motley Fool Wealth Management LLC increased its stake in Varian Medical Systems by 1.7% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 49,760 shares of the medical equipment provider’s stock valued at $5,570,000 after purchasing an additional 842 shares in the last quarter. 96.06% of the stock is owned by hedge funds and other institutional investors.

Shares of VAR stock opened at $125.82 on Tuesday. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $130.29. The company has a market capitalization of $11.24 billion, a PE ratio of 28.47, a P/E/G ratio of 3.29 and a beta of 0.62.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Varian Medical Systems had a return on equity of 27.54% and a net margin of 5.14%. The company had revenue of $801.60 million during the quarter, compared to the consensus estimate of $766.26 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Varian Medical Systems, Inc. will post 4.69 EPS for the current fiscal year.

VAR has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. UBS Group initiated coverage on shares of Varian Medical Systems in a research note on Wednesday, November 28th. They set a “buy” rating and a $140.00 price objective for the company. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. Royal Bank of Canada set a $115.00 price objective on shares of Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday, October 4th. Finally, Robert W. Baird initiated coverage on shares of Varian Medical Systems in a research note on Friday, October 19th. They set a “neutral” rating and a $119.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Varian Medical Systems currently has a consensus rating of “Hold” and an average target price of $121.56.

In other news, SVP Gary E. Bischoping, Jr. sold 845 shares of Varian Medical Systems stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $120.24, for a total value of $101,602.80. Following the completion of the sale, the senior vice president now directly owns 1,000 shares in the company, valued at $120,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 1,324 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $115.50, for a total transaction of $152,922.00. Following the completion of the sale, the senior vice president now owns 30,286 shares of the company’s stock, valued at $3,498,033. The disclosure for this sale can be found here. Insiders sold 17,623 shares of company stock valued at $1,965,564 over the last quarter. Company insiders own 0.78% of the company’s stock.

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Varian Medical Systems Company Profile

Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.

Further Reading: Institutional Investors

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

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