Varian Medical Systems Inc. (VAR) Shares Bought by Retirement Systems of Alabama
Retirement Systems of Alabama boosted its position in Varian Medical Systems Inc. (NYSE:VAR) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 98,252 shares of the company’s stock after buying an additional 742 shares during the period. Retirement Systems of Alabama’s holdings in Varian Medical Systems were worth $8,079,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Strs Ohio increased its stake in Varian Medical Systems by 19.0% in the second quarter. Strs Ohio now owns 15,587 shares of the company’s stock worth $1,281,000 after buying an additional 2,488 shares in the last quarter. First Merchants Corp increased its stake in Varian Medical Systems by 1.3% in the second quarter. First Merchants Corp now owns 13,511 shares of the company’s stock worth $1,111,000 after buying an additional 176 shares in the last quarter. Bank of Montreal Can purchased a new stake in Varian Medical Systems during the second quarter worth approximately $22,278,000. Shell Asset Management Co. increased its stake in Varian Medical Systems by 54.7% in the second quarter. Shell Asset Management Co. now owns 58,817 shares of the company’s stock worth $4,837,000 after buying an additional 20,795 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Varian Medical Systems by 4.0% in the second quarter. Meeder Asset Management Inc. now owns 6,991 shares of the company’s stock worth $575,000 after buying an additional 266 shares in the last quarter. 99.65% of the stock is currently owned by institutional investors.
Shares of Varian Medical Systems Inc. (NYSE:VAR) traded up 0.15% on Friday, reaching $99.02. The company’s stock had a trading volume of 643,839 shares. Varian Medical Systems Inc. has a 52-week low of $73.18 and a 52-week high of $100.07. The company has a 50 day moving average price of $96.79 and a 200 day moving average price of $87.79. The company has a market cap of $9.25 billion, a P/E ratio of 25.13 and a beta of 0.71.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.05. The firm had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. Varian Medical Systems had a return on equity of 25.01% and a net margin of 12.28%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. On average, analysts anticipate that Varian Medical Systems Inc. will post $4.64 earnings per share for the current fiscal year.
A number of research firms have recently commented on VAR. Jefferies Group reissued a “buy” rating and issued a $98.00 price objective on shares of Varian Medical Systems in a research note on Wednesday, September 28th. Robert W. Baird boosted their target price on Varian Medical Systems from $91.00 to $99.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 28th. Zacks Investment Research raised Varian Medical Systems from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Tuesday, September 27th. Barrington Research cut their target price on Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Finally, Morgan Stanley boosted their target price on Varian Medical Systems from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.33.
In other Varian Medical Systems news, CFO Elisha W. Finney sold 25,334 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $94.90, for a total value of $2,404,196.60. Following the transaction, the chief financial officer now directly owns 7,195 shares in the company, valued at approximately $682,805.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dow R. Wilson sold 10,000 shares of the stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $99.44, for a total value of $994,400.00. Following the completion of the transaction, the insider now owns 70,598 shares in the company, valued at $7,020,265.12. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
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. 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.
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).
Receive News & Ratings for Varian Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.