Pictet Asset Management Ltd. boosted its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 915,887 shares of the medical equipment provider’s stock after buying an additional 19,361 shares during the period. Pictet Asset Management Ltd.’s holdings in Varian Medical Systems were worth $90,691,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VAR. Thrivent Financial for Lutherans raised its position in Varian Medical Systems by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,240 shares of the medical equipment provider’s stock worth $291,000 after buying an additional 190 shares during the period. Teachers Advisors LLC raised its position in Varian Medical Systems by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 107,778 shares of the medical equipment provider’s stock worth $9,676,000 after buying an additional 4,000 shares during the period. Kentucky Retirement Systems purchased a new position in Varian Medical Systems during the fourth quarter worth $609,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Varian Medical Systems during the fourth quarter worth $271,000. Finally, Macquarie Group Ltd. raised its position in Varian Medical Systems by 156.3% in the fourth quarter. Macquarie Group Ltd. now owns 4,100 shares of the medical equipment provider’s stock worth $368,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Shares of Varian Medical Systems, Inc. (VAR) opened at 96.48 on Tuesday. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 31.76 and a beta of 0.61. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.08. The company has a 50 day moving average of $103.21 and a 200 day moving average of $92.66.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The company had revenue of $662.40 million for the quarter, compared to analyst estimates of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. Analysts predict that Varian Medical Systems, Inc. will post $3.95 EPS for the current fiscal year.

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Several equities research analysts have commented on the stock. Off Wall Street assumed coverage on shares of Varian Medical Systems in a research report on Monday, April 24th. They set a “sell” rating on the stock. Royal Bank Of Canada boosted their target price on shares of Varian Medical Systems from $82.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 27th. Barrington Research lowered shares of Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 27th. Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, TheStreet upgraded shares of Varian Medical Systems from a “c+” rating to a “b+” rating in a research report on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $96.28.

In related news, SVP John W. Kuo sold 862 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $96.39, for a total transaction of $83,088.18. Following the completion of the transaction, the senior vice president now owns 28,223 shares of the company’s stock, valued at $2,720,414.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $104.49, for a total value of $113,685.12. Following the transaction, the executive vice president now directly owns 27,688 shares of the company’s stock, valued at approximately $2,893,119.12. The disclosure for this sale can be found here. Insiders have sold 144,087 shares of company stock worth $14,652,328 over the last three months. Corporate insiders own 0.91% of the company’s stock.

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 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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