US Bancorp DE Buys 5,366 Shares of Varian Medical Systems, Inc. (VAR)

US Bancorp DE boosted its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 11.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,986 shares of the medical equipment provider’s stock after purchasing an additional 5,366 shares during the quarter. US Bancorp DE owned approximately 0.06% of Varian Medical Systems worth $6,254,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. APG Asset Management N.V. boosted its stake in Varian Medical Systems by 6.7% in the 4th quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock worth $164,846,000 after purchasing an additional 111,482 shares during the period. Wells Fargo & Company MN boosted its stake in Varian Medical Systems by 1.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,222,038 shares of the medical equipment provider’s stock worth $149,882,000 after purchasing an additional 16,202 shares during the period. Geode Capital Management LLC boosted its stake in Varian Medical Systems by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,186,042 shares of the medical equipment provider’s stock worth $131,599,000 after purchasing an additional 47,590 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Varian Medical Systems by 77.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 813,274 shares of the medical equipment provider’s stock worth $99,749,000 after purchasing an additional 353,938 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Varian Medical Systems by 438.0% in the 4th quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock worth $82,940,000 after purchasing an additional 607,500 shares during the period. Institutional investors and hedge funds own 94.18% of the company’s stock.

VAR has been the subject of several recent analyst reports. Goldman Sachs Group downgraded Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 price target for the company. in a research note on Thursday, January 25th. Royal Bank of Canada upped their price target on Varian Medical Systems to $115.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Citigroup upped their price target on Varian Medical Systems from $128.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barrington Research upgraded Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their price target on Varian Medical Systems from $88.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $115.13.

In other Varian Medical Systems news, Director David J. Illingworth sold 5,651 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $122.56, for a total value of $692,586.56. Following the transaction, the director now owns 12,737 shares of the company’s stock, valued at $1,561,046.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John W. Kuo sold 1,327 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $117.15, for a total value of $155,458.05. Following the completion of the transaction, the senior vice president now directly owns 30,551 shares in the company, valued at approximately $3,579,049.65. The disclosure for this sale can be found here. Insiders sold 37,287 shares of company stock worth $4,461,301 in the last ninety days. 0.78% of the stock is owned by corporate insiders.

Shares of VAR opened at $118.95 on Thursday. Varian Medical Systems, Inc. has a 1 year low of $95.23 and a 1 year high of $130.29. The company has a market cap of $10.87 billion, a PE ratio of 33.04, a PEG ratio of 3.30 and a beta of 0.85.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The company had revenue of $729.90 million for the quarter, compared to analysts’ expectations of $685.86 million. Varian Medical Systems had a return on equity of 27.99% and a net margin of 4.77%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. equities research analysts predict that Varian Medical Systems, Inc. will post 4.5 earnings per share for the current fiscal year.

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 Varian Particle Therapy. The Oncology Systems segment provides 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.

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

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