Spark Investment Management LLC cut its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 51.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,700 shares of the medical equipment provider’s stock after selling 17,400 shares during the period. Spark Investment Management LLC’s holdings in Varian Medical Systems were worth $1,723,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in shares of Varian Medical Systems by 84.5% in the first quarter. State of Alaska Department of Revenue now owns 22,194 shares of the medical equipment provider’s stock valued at $2,021,000 after buying an additional 10,167 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Varian Medical Systems by 16.2% in the first quarter. DnB Asset Management AS now owns 200,533 shares of the medical equipment provider’s stock valued at $18,275,000 after buying an additional 28,000 shares during the last quarter. SFE Investment Counsel boosted its stake in shares of Varian Medical Systems by 17.7% in the first quarter. SFE Investment Counsel now owns 45,447 shares of the medical equipment provider’s stock valued at $4,142,000 after buying an additional 6,829 shares during the last quarter. TNB Financial bought a new stake in shares of Varian Medical Systems during the first quarter valued at about $7,542,000. Finally, CrestPoint Capital Management LLC bought a new stake in shares of Varian Medical Systems during the first quarter valued at about $419,000. Institutional investors own 99.27% of the company’s stock.

Varian Medical Systems, Inc. (NYSE VAR) opened at 96.48 on Tuesday. Varian Medical Systems, Inc. has a 12-month low of $75.20 and a 12-month high of $107.08. The stock has a market capitalization of $8.85 billion, a PE ratio of 31.76 and a beta of 0.61. The stock’s 50 day moving average price is $103.21 and its 200-day moving average price is $92.66.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. The firm had revenue of $662.40 million during 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 business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. Analysts expect that Varian Medical Systems, Inc. will post $3.95 earnings per share for the current year.

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Several analysts have issued reports on the company. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub upgraded Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Robert W. Baird reiterated a “neutral” rating and set a $99.00 price target (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) initiated coverage on Varian Medical Systems in a report on Tuesday, May 16th. They set a “neutral” rating and a $92.00 price target for the company. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $96.28.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 26,092 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $105.00, for a total transaction of $2,739,660.00. Following the completion of the sale, the executive vice president now owns 52,692 shares of the company’s stock, valued at $5,532,660. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John W. Kuo sold 862 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $96.39, for a total value of $83,088.18. Following the sale, the senior vice president now directly owns 28,223 shares of the company’s stock, valued at approximately $2,720,414.97. The disclosure for this sale can be found here. Insiders sold 144,087 shares of company stock valued at $14,652,328 over the last quarter. 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.

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

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