GAM Holding AG Reduces Position in Varian Medical Systems Inc. (VAR)
GAM Holding AG cut its stake in Varian Medical Systems Inc. (NYSE:VAR) by 19.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 64,474 shares of the company’s stock after selling 15,701 shares during the period. GAM Holding AG’s holdings in Varian Medical Systems were worth $6,417,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Feltz Wealth PLAN Inc. purchased a new stake in shares of Varian Medical Systems during the second quarter valued at $115,000. Penserra Capital Management LLC boosted its stake in Varian Medical Systems by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,260 shares of the company’s stock worth $125,000 after buying an additional 630 shares in the last quarter. Global X Management Co. LLC boosted its stake in Varian Medical Systems by 143.0% in the second quarter. Global X Management Co. LLC now owns 1,662 shares of the company’s stock worth $137,000 after buying an additional 978 shares in the last quarter. Advisor Group Inc. bought a new stake in Varian Medical Systems during the second quarter worth approximately $146,000. Finally, Pacer Advisors Inc. boosted its stake in Varian Medical Systems by 8.7% in the second quarter. Pacer Advisors Inc. now owns 1,780 shares of the company’s stock worth $146,000 after buying an additional 143 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.
Varian Medical Systems Inc. (NYSE:VAR) traded up 0.42% on Tuesday, hitting $91.46. The stock had a trading volume of 305,792 shares. The company has a 50 day moving average price of $92.39 and a 200-day moving average price of $90.54. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 21.83 and a beta of 0.67. Varian Medical Systems Inc. has a 52-week low of $73.18 and a 52-week high of $106.70.
Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, October 26th. The company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.04. Varian Medical Systems had a return on equity of 26.57% and a net margin of 12.51%. The firm had revenue of $912 million for the quarter, compared to the consensus estimate of $880.29 million. During the same period in the previous year, the business earned $1.04 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Varian Medical Systems Inc. will post $4.93 earnings per share for the current year.
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A number of equities research analysts have recently commented on VAR shares. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Robert W. Baird upped their price target on Varian Medical Systems from $91.00 to $99.00 and gave the company a “neutral” rating in a report on Wednesday, September 28th. Jefferies Group reaffirmed a “buy” rating and set a $98.00 price target on shares of Varian Medical Systems in a report on Wednesday, September 28th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a report on Monday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $93.38.
In related news, CFO Elisha W. Finney sold 2,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $95.82, for a total transaction of $191,640.00. Following the transaction, the chief financial officer now directly owns 7,195 shares in the company, valued at approximately $689,424.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy E. Guertin sold 4,000 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $90.32, for a total value of $361,280.00. 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.
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