MUFG Securities EMEA plc Invests $1.17 Million in Varian Medical Systems, Inc. (NYSE:VAR)

MUFG Securities EMEA plc purchased a new position in shares of Varian Medical Systems, Inc. (NYSE:VAR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,557 shares of the medical equipment provider’s stock, valued at approximately $1,165,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Varian Medical Systems by 10.5% during the first quarter. BlackRock Inc. now owns 7,997,119 shares of the medical equipment provider’s stock worth $1,133,353,000 after purchasing an additional 760,049 shares during the period. Wells Fargo & Company MN raised its position in shares of Varian Medical Systems by 19.7% during the second quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock worth $257,171,000 after purchasing an additional 311,004 shares during the period. Northern Trust Corp raised its position in shares of Varian Medical Systems by 0.3% during the second quarter. Northern Trust Corp now owns 1,303,895 shares of the medical equipment provider’s stock worth $177,499,000 after purchasing an additional 4,225 shares during the period. FMR LLC raised its position in shares of Varian Medical Systems by 245.7% during the first quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock worth $184,244,000 after purchasing an additional 923,949 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Varian Medical Systems by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 1,259,504 shares of the medical equipment provider’s stock worth $142,479,000 after purchasing an additional 84,116 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Shares of NYSE:VAR traded down $1.61 during mid-day trading on Friday, reaching $117.94. 42,062 shares of the stock were exchanged, compared to its average volume of 682,132. The company has a market cap of $10.13 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.01 and a beta of 0.87. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $142.50. The stock’s 50 day simple moving average is $111.52 and its 200-day simple moving average is $128.85.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.18. The business had revenue of $825.80 million during the quarter, compared to the consensus estimate of $762.29 million. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. Varian Medical Systems’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. As a group, research analysts forecast that Varian Medical Systems, Inc. will post 4.62 EPS for the current fiscal year.

VAR has been the topic of a number of research analyst reports. ValuEngine lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Robert W. Baird set a $158.00 price objective on Varian Medical Systems and gave the stock a “buy” rating in a report on Friday, July 26th. Zacks Investment Research downgraded Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a report on Saturday, July 27th. TheStreet downgraded Varian Medical Systems from a “b” rating to a “c+” rating in a report on Monday, August 5th. Finally, Barrington Research reiterated a “buy” rating and set a $142.00 price objective on shares of Varian Medical Systems in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $141.22.

In other Varian Medical Systems news, SVP John W. Kuo sold 465 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $131.40, for a total value of $61,101.00. Following the completion of the transaction, the senior vice president now directly owns 35,566 shares in the company, valued at $4,673,372.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy E. Guertin sold 12,651 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $135.21, for a total value of $1,710,541.71. Following the completion of the transaction, the director now owns 13,589 shares of the company’s stock, valued at $1,837,368.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,063 shares of company stock valued at $9,586,118. 0.78% of the stock is owned by corporate insiders.

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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

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

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