Janney Montgomery Scott LLC decreased its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 68.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,823 shares of the medical equipment provider’s stock after selling 21,225 shares during the period. Janney Montgomery Scott LLC’s holdings in Varian Medical Systems were worth $1,014,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VAR. Personal Capital Advisors Corp acquired a new stake in shares of Varian Medical Systems during the first quarter worth $984,000. Candriam Luxembourg S.C.A. increased its stake in shares of Varian Medical Systems by 52.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,245 shares of the medical equipment provider’s stock worth $934,000 after buying an additional 3,545 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its stake in shares of Varian Medical Systems by 27.7% in the first quarter. Cape Cod Five Cents Savings Bank now owns 33,755 shares of the medical equipment provider’s stock worth $3,076,000 after buying an additional 7,318 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Varian Medical Systems by 127.9% in the first quarter. Retirement Systems of Alabama now owns 100,901 shares of the medical equipment provider’s stock worth $9,195,000 after buying an additional 56,627 shares in the last quarter. Finally, State of Alaska Department of Revenue increased 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 worth $2,021,000 after buying an additional 10,167 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Varian Medical Systems, Inc. (NYSE VAR) opened at 97.74 on Friday. The stock has a 50 day moving average of $101.70 and a 200 day moving average of $93.39. Varian Medical Systems, Inc. has a 12-month low of $75.20 and a 12-month high of $107.08. The company has a market capitalization of $8.97 billion, a PE ratio of 32.17 and a beta of 0.61.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.09. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The firm had revenue of $662.40 million during the quarter, compared to the consensus estimate of $663.86 million. During the same period last year, the firm posted $1.00 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Varian Medical Systems, Inc. will post $3.94 EPS for the current year.

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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Robert W. Baird restated a “neutral” rating and issued a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) started coverage on shares of Varian Medical Systems in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Jefferies Group LLC restated a “buy” rating on shares of Varian Medical Systems in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Varian Medical Systems currently has a consensus rating of “Hold” and an average price target of $96.28.

In related news, SVP John W. Kuo sold 19,819 shares of Varian Medical Systems stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $99.67, for a total transaction of $1,975,359.73. Following the completion of the transaction, the senior vice president now directly owns 47,180 shares of the company’s stock, valued at approximately $4,702,430.60. The sale 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 dated 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 transaction, the executive vice president now directly owns 32,737 shares of the company’s stock, valued at $3,265,843.12. The disclosure for this sale can be found here. Insiders have sold a total of 158,284 shares of company stock valued at $16,022,132 over the last three months. 0.91% of the stock is currently owned by insiders.

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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