Rockefeller Capital Management L.P. grew its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 23.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,305 shares of the medical equipment provider’s stock after buying an additional 245 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Varian Medical Systems were worth $185,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc boosted its position in Varian Medical Systems by 1.1% during the third quarter. Vanguard Group Inc now owns 9,848,756 shares of the medical equipment provider’s stock valued at $1,102,371,000 after buying an additional 106,728 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Varian Medical Systems by 12.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 20,526 shares of the medical equipment provider’s stock valued at $2,326,000 after acquiring an additional 2,333 shares during the last quarter. Enlightenment Research LLC bought a new position in shares of Varian Medical Systems during the fourth quarter valued at about $57,000. Cognios Capital LLC bought a new position in shares of Varian Medical Systems during the fourth quarter valued at about $2,024,000. Finally, Comerica Bank raised its stake in shares of Varian Medical Systems by 2.1% during the fourth quarter. Comerica Bank now owns 18,552 shares of the medical equipment provider’s stock valued at $2,428,000 after acquiring an additional 377 shares during the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Citigroup decreased their price target on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barrington Research increased their price target on shares of Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Robert W. Baird raised shares of Varian Medical Systems from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $127.00 to $162.00 in a research note on Friday, March 22nd. Finally, UBS Group raised their target price on shares of Varian Medical Systems from $150.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $143.33.
In related news, SVP Christopher A. Toth sold 2,611 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $138.84, for a total value of $362,511.24. Following the sale, the senior vice president now owns 2,332 shares in the company, valued at $323,774.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher A. Toth sold 4,621 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $135.17, for a total transaction of $624,620.57. Following the completion of the sale, the senior vice president now owns 2,936 shares in the company, valued at approximately $396,859.12. The disclosure for this sale can be found here. Insiders sold 71,978 shares of company stock worth $10,111,208 in the last 90 days. 0.78% of the stock is currently owned by corporate insiders.
NYSE:VAR opened at $132.08 on Friday. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $142.50. The company has a market cap of $12.00 billion, a PE ratio of 29.88, a PEG ratio of 3.56 and a beta of 0.84.
Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.11). Varian Medical Systems had a return on equity of 24.40% and a net margin of 12.59%. The company had revenue of $779.40 million during the quarter, compared to analysts’ expectations of $776.28 million. During the same quarter in the prior year, the business posted $1.15 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Varian Medical Systems, Inc. will post 4.63 EPS for the current year.
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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.
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