Baillie Gifford & Co. Has $12.34 Million Stake in Varian Medical Systems, Inc. (VAR)

Baillie Gifford & Co. lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,904 shares of the medical equipment provider’s stock after selling 8,471 shares during the period. Baillie Gifford & Co. owned approximately 0.12% of Varian Medical Systems worth $12,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new stake in shares of Varian Medical Systems in the third quarter worth about $163,000. Janney Montgomery Scott LLC grew its stake in shares of Varian Medical Systems by 17.2% in the third quarter. Janney Montgomery Scott LLC now owns 18,193 shares of the medical equipment provider’s stock worth $2,036,000 after purchasing an additional 2,666 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Varian Medical Systems by 16.5% in the third quarter. Penserra Capital Management LLC now owns 3,220 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Varian Medical Systems by 3.5% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 26,703 shares of the medical equipment provider’s stock worth $2,989,000 after purchasing an additional 900 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Varian Medical Systems by 4.7% in the third quarter. Commonwealth Equity Services LLC now owns 12,378 shares of the medical equipment provider’s stock worth $1,385,000 after purchasing an additional 553 shares during the last quarter. Institutional investors own 91.95% of the company’s stock.

Varian Medical Systems stock opened at $136.31 on Friday. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 3.60 and a beta of 0.85. Varian Medical Systems, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $137.67.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The firm had revenue of $741.00 million for the quarter, compared to the consensus estimate of $717.83 million. Varian Medical Systems had a net margin of 12.28% and a return on equity of 26.18%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, equities research analysts anticipate that Varian Medical Systems, Inc. will post 4.7 earnings per share for the current year.

VAR has been the topic of several recent analyst reports. Goldman Sachs Group raised Varian Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $107.00 to $129.00 in a research note on Friday, January 4th. Zacks Investment Research raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. Citigroup cut their target price on Varian Medical Systems from $145.00 to $131.00 and set a “buy” rating on the stock in a research note on Wednesday, January 2nd. UBS Group initiated coverage on Varian Medical Systems in a research note on Wednesday, November 28th. They issued a “buy” rating and a $140.00 target price on the stock. Finally, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Varian Medical Systems has an average rating of “Buy” and an average price target of $130.63.

In other Varian Medical Systems news, CAO Magnus Momsen sold 2,800 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $110.17, for a total transaction of $308,476.00. Following the sale, the chief accounting officer now directly owns 3,281 shares of the company’s stock, valued at approximately $361,467.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 19,580 shares of Varian Medical Systems stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $130.48, for a total value of $2,554,798.40. Following the sale, the executive vice president now directly owns 34,798 shares in the company, valued at $4,540,443.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,466 shares of company stock worth $6,105,577. Insiders own 0.74% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was posted by Stock Observer and is owned by of Stock Observer. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://www.thestockobserver.com/2019/03/15/baillie-gifford-co-has-12-34-million-stake-in-varian-medical-systems-inc-var.html.

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.

Recommended Story: Outstanding Shares

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.