Candriam Luxembourg S.C.A. Raises Stake in Varian Medical Systems, Inc. (VAR)

Candriam Luxembourg S.C.A. boosted its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 45.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,866 shares of the medical equipment provider’s stock after buying an additional 4,621 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Varian Medical Systems were worth $1,534,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of VAR. BTIM Corp. boosted its stake in shares of Varian Medical Systems by 7.9% in the first quarter. BTIM Corp. now owns 189,842 shares of the medical equipment provider’s stock valued at $17,300,000 after buying an additional 13,975 shares in the last quarter. Personal Capital Advisors Corp purchased a new stake in shares of Varian Medical Systems during the first quarter valued at $984,000. Cape Cod Five Cents Savings Bank boosted its stake in shares of Varian Medical Systems by 27.7% in the first quarter. Cape Cod Five Cents Savings Bank now owns 33,755 shares of the medical equipment provider’s stock valued at $3,076,000 after buying an additional 7,318 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Varian Medical Systems by 127.9% in the first quarter. Retirement Systems of Alabama now owns 100,901 shares of the medical equipment provider’s stock valued at $9,195,000 after buying an additional 56,627 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Varian Medical Systems by 84.5% in the first quarter. State of Alaska Department of Revenue now owns 22,194 shares of the medical equipment provider’s stock valued at $2,021,000 after buying an additional 10,167 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Varian Medical Systems, Inc. (NYSE VAR) opened at 97.74 on Friday. The stock has a 50 day moving average price of $101.70 and a 200 day moving average price of $93.39. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.08. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 32.17 and a beta of 0.61.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The business had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $663.86 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Varian Medical Systems, Inc. will post $3.94 earnings per share for the current year.

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Several brokerages have weighed in on VAR. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub upgraded Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Robert W. Baird reiterated a “neutral” rating and issued a $99.00 target price (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) began coverage on Varian Medical Systems in a report on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Three 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. Varian Medical Systems currently has an average rating of “Hold” and a consensus target price of $96.28.

In other news, insider Dow R. Wilson sold 15,059 shares of Varian Medical Systems stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the sale, the insider now owns 81,835 shares in the company, valued at $7,895,440.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $104.49, for a total value of $113,685.12. Following the sale, the executive vice president now owns 27,688 shares in the company, valued at approximately $2,893,119.12. The disclosure for this sale can be found here. Insiders have sold 158,284 shares of company stock worth $16,022,132 in the last quarter. Insiders own 0.91% of the company’s stock.

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.

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

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