Varian Medical Systems, Inc. (NYSE:VAR) Shares Bought by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC raised its position in Varian Medical Systems, Inc. (NYSE:VAR) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,070 shares of the medical equipment provider’s stock after acquiring an additional 900 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Varian Medical Systems were worth $2,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. grew its position in shares of Varian Medical Systems by 1.2% during the second quarter. Crossmark Global Holdings Inc. now owns 7,589 shares of the medical equipment provider’s stock worth $1,033,000 after buying an additional 89 shares in the last quarter. Berman Capital Advisors LLC grew its position in shares of Varian Medical Systems by 16.3% during the second quarter. Berman Capital Advisors LLC now owns 656 shares of the medical equipment provider’s stock worth $89,000 after buying an additional 92 shares in the last quarter. Zions Bancorporation N.A. grew its position in shares of Varian Medical Systems by 5.7% during the second quarter. Zions Bancorporation N.A. now owns 1,787 shares of the medical equipment provider’s stock worth $243,000 after buying an additional 96 shares in the last quarter. First Republic Investment Management Inc. grew its position in shares of Varian Medical Systems by 2.0% during the first quarter. First Republic Investment Management Inc. now owns 5,150 shares of the medical equipment provider’s stock worth $730,000 after buying an additional 99 shares in the last quarter. Finally, State Treasurer State of Michigan grew its position in shares of Varian Medical Systems by 0.4% during the first quarter. State Treasurer State of Michigan now owns 26,154 shares of the medical equipment provider’s stock worth $3,707,000 after buying an additional 100 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

VAR stock traded down $2.12 during trading on Friday, hitting $106.12. 772,827 shares of the company’s stock were exchanged, compared to its average volume of 755,528. The business has a 50-day moving average price of $122.17 and a two-hundred day moving average price of $131.19. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.93 and a beta of 0.84. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $142.50.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. The firm had revenue of $825.80 million during the quarter, compared to analysts’ expectations of $762.29 million. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, equities research analysts predict that Varian Medical Systems, Inc. will post 4.62 EPS for the current year.

In other Varian Medical Systems news, Director Timothy E. Guertin sold 12,651 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $135.21, for a total value of $1,710,541.71. Following the completion of the sale, the director now owns 13,589 shares in the company, valued at $1,837,368.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John W. Kuo sold 465 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.49, for a total value of $51,377.85. Following the completion of the sale, the senior vice president now owns 35,566 shares of the company’s stock, valued at approximately $3,929,687.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,305 shares of company stock valued at $9,749,453. 0.78% of the stock is owned by company insiders.

VAR has been the subject of a number of analyst reports. ValuEngine downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Zacks Investment Research cut Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 target price for the company. in a research note on Saturday, July 27th. TheStreet cut Varian Medical Systems from a “b” rating to a “c+” rating in a research note on Monday, August 5th. Barrington Research restated a “buy” rating and set a $142.00 target price on shares of Varian Medical Systems in a research note on Thursday, July 25th. Finally, Citigroup decreased their target price on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $141.22.

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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