Varian Medical Systems, Inc. (VAR) Holdings Lessened by Addenda Capital Inc.

Addenda Capital Inc. reduced its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 19.9% in the 4th quarter, HoldingsChannel reports. The fund owned 5,730 shares of the medical equipment provider’s stock after selling 1,426 shares during the quarter. Addenda Capital Inc.’s holdings in Varian Medical Systems were worth $636,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Pensionfund Sabic bought a new stake in shares of Varian Medical Systems in the fourth quarter worth about $1,556,000. Pensionfund DSM Netherlands bought a new stake in shares of Varian Medical Systems in the fourth quarter worth about $3,001,000. Parametric Portfolio Associates LLC increased its holdings in shares of Varian Medical Systems by 4.2% in the third quarter. Parametric Portfolio Associates LLC now owns 631,098 shares of the medical equipment provider’s stock worth $63,148,000 after acquiring an additional 25,238 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Varian Medical Systems by 21.2% in the third quarter. GSA Capital Partners LLP now owns 13,145 shares of the medical equipment provider’s stock worth $1,315,000 after acquiring an additional 2,303 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of Varian Medical Systems in the third quarter worth about $665,000. Institutional investors own 99.10% of the company’s stock.

In related news, EVP Kolleen T. Kennedy sold 931 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $105.00, for a total transaction of $97,755.00. Following the completion of the transaction, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at $2,890,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kolleen T. Kennedy sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $107.36, for a total value of $216,974.56. Following the completion of the sale, the executive vice president now directly owns 27,595 shares of the company’s stock, valued at $2,962,599.20. The disclosure for this sale can be found here. Insiders have sold 111,727 shares of company stock valued at $12,392,515 over the last three months. Insiders own 0.78% of the company’s stock.

Several equities research analysts have issued reports on the company. Evercore ISI assumed coverage on Varian Medical Systems in a report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 price target for the company. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Royal Bank of Canada set a $105.00 price objective on Varian Medical Systems and gave the stock a “hold” rating in a report on Thursday, November 30th. Citigroup increased their price objective on Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research downgraded Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $100.44.

Varian Medical Systems, Inc. (NYSE:VAR) opened at $108.49 on Friday. Varian Medical Systems, Inc. has a 52-week low of $75.54 and a 52-week high of $114.09. The company has a market capitalization of $9,940.00, a P/E ratio of 39.31, a P/E/G ratio of 3.26 and a beta of 0.68.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. During the same period last year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. equities research analysts anticipate that Varian Medical Systems, Inc. will post 4.25 EPS for the current fiscal year.

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

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