United Capital Financial Advisers LLC Purchases 8,002 Shares of Varian Medical Systems, Inc. (NYSE:VAR)

United Capital Financial Advisers LLC increased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 15.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,848 shares of the medical equipment provider’s stock after acquiring an additional 8,002 shares during the quarter. United Capital Financial Advisers LLC owned about 0.07% of Varian Medical Systems worth $8,283,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VAR. Permanens Capital L.P. bought a new stake in Varian Medical Systems during the first quarter valued at approximately $28,000. Arrow Financial Corp bought a new stake in Varian Medical Systems during the second quarter valued at approximately $27,000. Quantamental Technologies LLC bought a new stake in Varian Medical Systems during the second quarter valued at approximately $29,000. Financial Gravity Wealth Inc. lifted its position in Varian Medical Systems by 1,646.2% during the second quarter. Financial Gravity Wealth Inc. now owns 227 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 214 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its position in Varian Medical Systems by 651.6% during the second quarter. FinTrust Capital Advisors LLC now owns 233 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

Shares of VAR stock traded down $2.16 during trading hours on Friday, hitting $117.39. 1,146,688 shares of the company’s stock were exchanged, compared to its average volume of 740,902. The company has a market capitalization of $10.89 billion, a PE ratio of 26.05, a PEG ratio of 3.23 and a beta of 0.87. Varian Medical Systems, Inc. has a 12-month low of $101.42 and a 12-month high of $142.50. The business’s 50 day simple moving average is $111.21 and its 200-day simple moving average is $128.77.

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

In related news, insider Kolleen T. Kennedy sold 1,242 shares of Varian Medical Systems stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $137.99, for a total value of $171,383.58. Following the transaction, the insider now directly owns 27,633 shares of the company’s stock, valued at $3,813,077.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John W. Kuo sold 465 shares of Varian Medical Systems stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.49, for a total transaction of $51,377.85. Following the completion of the transaction, the senior vice president now directly owns 35,566 shares in the company, valued at $3,929,687.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,063 shares of company stock worth $9,586,118. 0.78% of the stock is owned by insiders.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of 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 report on Saturday, July 27th. ValuEngine lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. TheStreet lowered shares of Varian Medical Systems from a “b” rating to a “c+” rating in a research report on Monday, August 5th. Barrington Research reiterated a “buy” rating and set a $142.00 target price on shares of Varian Medical Systems in a research report on Thursday, July 25th. Finally, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $141.22.

About Varian Medical Systems

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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