First Mercantile Trust Co. Purchases 25 Shares of Varian Medical Systems, Inc. (VAR)

First Mercantile Trust Co. raised its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,093 shares of the medical equipment provider’s stock after buying an additional 25 shares during the period. First Mercantile Trust Co.’s holdings in Varian Medical Systems were worth $100,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of VAR. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Varian Medical Systems by 2.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,667 shares of the medical equipment provider’s stock valued at $1,559,000 after buying an additional 362 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Varian Medical Systems by 1.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 338,169 shares of the medical equipment provider’s stock valued at $33,658,000 after buying an additional 3,894 shares during the last quarter. World Asset Management Inc increased its position in shares of Varian Medical Systems by 0.6% in the third quarter. World Asset Management Inc now owns 9,629 shares of the medical equipment provider’s stock valued at $958,000 after buying an additional 60 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Varian Medical Systems by 13.5% in the third quarter. Virginia Retirement Systems ET AL now owns 74,900 shares of the medical equipment provider’s stock valued at $7,455,000 after buying an additional 8,900 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in shares of Varian Medical Systems by 25.2% in the third quarter. APG Asset Management N.V. now owns 848,260 shares of the medical equipment provider’s stock valued at $84,427,000 after buying an additional 170,900 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Varian Medical Systems, Inc. (VAR) traded up 0.28% during mid-day trading on Friday, reaching $102.96. 1,178,735 shares of the company’s stock were exchanged. The company has a market capitalization of $9.46 billion, a PE ratio of 33.22 and a beta of 0.63. Varian Medical Systems, Inc. has a one year low of $68.08 and a one year high of $103.79. The company’s 50-day moving average price is $97.57 and its 200-day moving average price is $87.16.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $655 million during the quarter, compared to analysts’ expectations of $639.26 million. Varian Medical Systems had a net margin of 9.39% and a return on equity of 24.82%. Varian Medical Systems’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. On average, equities analysts expect that Varian Medical Systems, Inc. will post $3.90 earnings per share for the current year.

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Several brokerages have recently issued reports on VAR. BidaskClub downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Goldman Sachs Group, Inc. (The) began coverage on shares of Varian Medical Systems in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 target price on the stock. Jefferies Group LLC reiterated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, May 11th. Citigroup Inc. upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating in a research note on Monday, May 15th. Finally, Aegis reiterated a “hold” rating and issued a $91.00 target price on shares of Varian Medical Systems in a research note on Wednesday, May 17th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $93.54.

In other Varian Medical Systems news, SVP John W. Kuo sold 734 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $101.91, for a total transaction of $74,801.94. Following the completion of the transaction, the senior vice president now directly owns 28,095 shares of the company’s stock, valued at approximately $2,863,161.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark R. Laret sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $103.47, for a total transaction of $147,755.16. Following the transaction, the director now directly owns 3,289 shares of the company’s stock, valued at $340,312.83. The disclosure for this sale can be found here. Insiders sold a total of 101,819 shares of company stock valued at $10,178,052 over the last quarter. 0.91% of the stock is owned by company insiders.

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.

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