CrestPoint Capital Management LLC boosted its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 50.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the medical equipment provider’s stock after buying an additional 2,300 shares during the period. CrestPoint Capital Management LLC’s holdings in Varian Medical Systems were worth $712,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Mercantile Trust Co. raised its position in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. Parallel Advisors LLC raised its position in Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 176 shares during the last quarter. Heritage Trust Co purchased a new position in Varian Medical Systems during the first quarter valued at $118,000. Penserra Capital Management LLC raised its position in Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 140 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after buying an additional 55 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) opened at 105.40 on Wednesday. Varian Medical Systems, Inc. has a 52 week low of $75.20 and a 52 week high of $107.08. The company’s 50-day moving average is $103.13 and its 200 day moving average is $91.07. The stock has a market capitalization of $9.69 billion, a P/E ratio of 34.01 and a beta of 0.62.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $655 million for the quarter, compared to analyst estimates of $639.26 million. Varian Medical Systems had a net margin of 9.39% and a return on equity of 24.82%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities analysts forecast that Varian Medical Systems, Inc. will post $3.90 EPS for the current fiscal year.

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Several equities analysts have weighed in on VAR shares. TheStreet upgraded shares of Varian Medical Systems from a “c+” rating to a “b+” rating in a report on Wednesday, April 26th. Citigroup Inc. upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, May 11th. BTIG Research raised shares of Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Monday, May 8th. Finally, BidaskClub downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $94.21.

In other news, Director Timothy E. Guertin sold 16,000 shares of Varian Medical Systems stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $103.22, for a total transaction of $1,651,520.00. Following the sale, the director now owns 2,161 shares in the company, valued at $223,058.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 56,573 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $99.76, for a total transaction of $5,643,722.48. Following the sale, the executive vice president now owns 32,737 shares in the company, valued at approximately $3,265,843.12. The disclosure for this sale can be found here. Insiders have sold 147,676 shares of company stock worth $14,979,214 in the last quarter. Insiders own 0.91% 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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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