Varian Medical Systems, Inc. (VAR) Holdings Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 15.1% in the 4th quarter, Holdings Channel reports. The firm owned 187,834 shares of the medical equipment provider’s stock after selling 33,385 shares during the period. Alliancebernstein L.P.’s holdings in Varian Medical Systems were worth $20,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VAR. WASHINGTON TRUST Co lifted its stake in Varian Medical Systems by 100.0% during the fourth quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 485 shares during the last quarter. Advisory Services Network LLC lifted its stake in Varian Medical Systems by 3,418.8% during the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after purchasing an additional 1,641 shares during the last quarter. MUFG Americas Holdings Corp lifted its stake in Varian Medical Systems by 45.2% during the fourth quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock worth $190,000 after purchasing an additional 533 shares during the last quarter. Catawba Capital Management VA bought a new stake in Varian Medical Systems during the fourth quarter worth $210,000. Finally, Convergence Investment Partners LLC bought a new stake in Varian Medical Systems during the third quarter worth $219,000. Hedge funds and other institutional investors own 99.20% of the company’s stock.

How to Become a New Pot Stock Millionaire

Several equities research analysts have weighed in on VAR shares. TheStreet cut Varian Medical Systems from a “b+” rating to a “c” rating in a research note on Monday, February 12th. Evercore ISI initiated coverage on Varian Medical Systems in a research note on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 target price for the company. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Monday, January 29th. ValuEngine upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Varian Medical Systems from $88.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $111.80.

In related news, insider Dow R. Wilson sold 24,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $126.73, for a total value of $3,041,520.00. Following the completion of the sale, the insider now directly owns 90,776 shares in the company, valued at $11,504,042.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Kuo sold 7,991 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $110.65, for a total value of $884,204.15. Following the completion of the sale, the senior vice president now owns 27,363 shares of the company’s stock, valued at $3,027,715.95. The disclosure for this sale can be found here. Insiders sold 100,568 shares of company stock valued at $12,019,913 over the last 90 days. 0.78% of the stock is currently owned by company insiders.

VAR stock opened at $124.22 on Wednesday. The stock has a market cap of $11,397.92, a price-to-earnings ratio of 99.38, a PEG ratio of 3.62 and a beta of 0.85. Varian Medical Systems, Inc. has a 1-year low of $87.49 and a 1-year high of $130.29.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.06. The company had revenue of $678.50 million during the quarter, compared to the consensus estimate of $633.96 million. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. equities research analysts expect that Varian Medical Systems, Inc. will post 4.31 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Varian Medical Systems, Inc. (VAR) Holdings Trimmed by Alliancebernstein L.P.” was first published by Stock Observer and is owned by of Stock Observer. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.thestockobserver.com/2018/03/21/varian-medical-systems-inc-var-holdings-trimmed-by-alliancebernstein-l-p.html.

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.

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply