Virginia Retirement Systems ET AL purchased a new stake in shares of Varian Medical Systems Inc. (NYSE:VAR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,000 shares of the company’s stock, valued at approximately $5,427,000. Virginia Retirement Systems ET AL owned approximately 0.07% of Varian Medical Systems at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in VAR. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Varian Medical Systems by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,604 shares of the company’s stock valued at $625,000 after buying an additional 32 shares during the period. FDO Partners LLC boosted its stake in Varian Medical Systems by 0.4% in the first quarter. FDO Partners LLC now owns 9,218 shares of the company’s stock valued at $738,000 after buying an additional 35 shares during the period. Intrust Bank NA boosted its stake in Varian Medical Systems by 1.9% in the second quarter. Intrust Bank NA now owns 2,702 shares of the company’s stock valued at $222,000 after buying an additional 50 shares during the period. M&T Bank Corp boosted its stake in Varian Medical Systems by 0.3% in the second quarter. M&T Bank Corp now owns 27,975 shares of the company’s stock valued at $2,301,000 after buying an additional 83 shares during the period. Finally, Covington Investment Advisors Inc. boosted its stake in Varian Medical Systems by 1.9% in the first quarter. Covington Investment Advisors Inc. now owns 7,325 shares of the company’s stock valued at $586,000 after buying an additional 140 shares during the period. 99.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Varian Medical Systems Inc. (NYSE:VAR) opened at 96.05 on Tuesday. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 24.38 and a beta of 0.76. Varian Medical Systems Inc. has a one year low of $71.07 and a one year high of $97.48. The company’s 50 day moving average is $95.23 and its 200-day moving average is $85.89.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.05. The business earned $789.40 million during the quarter, compared to analysts’ expectations of $779.90 million. Varian Medical Systems had a net margin of 12.28% and a return on equity of 25.01%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS. Equities analysts expect that Varian Medical Systems Inc. will post $4.64 EPS for the current year.

A number of equities analysts have issued reports on VAR shares. Zacks Investment Research cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Barrington Research reduced their price objective on shares of Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Jefferies Group reaffirmed a “buy” rating on shares of Varian Medical Systems in a research note on Friday, June 10th. Finally, Brean Capital raised their price objective on shares of Varian Medical Systems from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $89.60.

In other Varian Medical Systems news, SVP John W. Kuo sold 4,073 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $95.47, for a total value of $388,849.31. Following the completion of the transaction, the senior vice president now directly owns 28,100 shares in the company, valued at approximately $2,682,707. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Clarence R. Verhoef sold 9,483 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $94.88, for a total transaction of $899,747.04. Following the completion of the transaction, the senior vice president now owns 8,616 shares of the company’s stock, valued at $817,486.08. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Varian Medical Systems Company Profile

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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.

5 Day Chart for NYSE:VAR

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