Varian Medical Systems, Inc. (NYSE:VAR) Shares Sold by Mackay Shields LLC

Mackay Shields LLC trimmed its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 19.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 24,866 shares of the medical equipment provider’s stock after selling 5,861 shares during the period. Mackay Shields LLC’s holdings in Varian Medical Systems were worth $2,552,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its holdings in shares of Varian Medical Systems by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 62,518 shares of the medical equipment provider’s stock worth $8,878,000 after buying an additional 1,634 shares during the last quarter. Credit Suisse AG increased its holdings in shares of Varian Medical Systems by 18.6% during the 4th quarter. Credit Suisse AG now owns 147,740 shares of the medical equipment provider’s stock worth $20,980,000 after buying an additional 23,134 shares during the last quarter. Norges Bank acquired a new stake in shares of Varian Medical Systems during the 4th quarter worth $107,285,000. Eads & Heald Wealth Management increased its holdings in shares of Varian Medical Systems by 1.9% during the 4th quarter. Eads & Heald Wealth Management now owns 7,465 shares of the medical equipment provider’s stock worth $1,060,000 after buying an additional 140 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of Varian Medical Systems by 30.3% during the 4th quarter. Guggenheim Capital LLC now owns 37,444 shares of the medical equipment provider’s stock worth $5,318,000 after buying an additional 8,697 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

NYSE:VAR opened at $115.41 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.28 and a quick ratio of 0.97. The firm has a 50-day moving average of $111.45 and a two-hundred day moving average of $128.07. The stock has a market cap of $10.51 billion, a P/E ratio of 42.43, a PEG ratio of 4.16 and a beta of 1.07. Varian Medical Systems, Inc. has a 1-year low of $89.62 and a 1-year high of $150.06.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Monday, May 4th. The medical equipment provider reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $794.50 million during the quarter, compared to analysts’ expectations of $769.99 million. Varian Medical Systems had a net margin of 7.51% and a return on equity of 22.93%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. As a group, equities analysts expect that Varian Medical Systems, Inc. will post 3.6 earnings per share for the current year.

In other Varian Medical Systems news, CEO Dow R. Wilson sold 38,909 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $110.00, for a total value of $4,279,990.00. Following the completion of the transaction, the chief executive officer now directly owns 121,267 shares of the company’s stock, valued at approximately $13,339,370. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.78% of the company’s stock.

VAR has been the subject of a number of research reports. ValuEngine cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Barrington Research reaffirmed a “buy” rating and set a $137.00 price target (down from $147.00) on shares of Varian Medical Systems in a research report on Tuesday, May 5th. Goldman Sachs Group cut shares of Varian Medical Systems from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $171.00 to $114.00 in a research report on Wednesday, April 1st. TheStreet cut shares of Varian Medical Systems from a “b-” rating to a “c” rating in a research report on Monday, May 4th. Finally, BTIG Research reaffirmed a “buy” rating and set a $133.00 price target on shares of Varian Medical Systems in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Varian Medical Systems has a consensus rating of “Hold” and a consensus target price of $124.78.

Varian Medical Systems 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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