South Texas Money Management Ltd. reduced its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 269,535 shares of the medical equipment provider’s stock after selling 9,016 shares during the period. South Texas Money Management Ltd. owned approximately 0.29% of Varian Medical Systems worth $27,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC lifted its holdings in Varian Medical Systems by 16.5% in the second quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 150 shares during the period. Parallel Advisors LLC lifted its holdings 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 period. Penserra Capital Management LLC lifted its holdings 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 period. Pacer Advisors Inc. lifted its holdings 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 period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Varian Medical Systems by 0.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 99.28% of the company’s stock.

In other news, insider Dow R. Wilson sold 15,060 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $103.37, for a total value of $1,556,752.20. Following the transaction, the insider now owns 81,836 shares in the company, valued at approximately $8,459,387.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kolleen T. Kennedy sold 2,021 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $104.73, for a total transaction of $211,659.33. Following the completion of the transaction, the executive vice president now owns 27,688 shares in the company, valued at approximately $2,899,764.24. The disclosure for this sale can be found here. Insiders sold a total of 54,787 shares of company stock worth $5,600,457 in the last 90 days. Corporate insiders own 0.91% of the company’s stock.

Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. BTIG Research lowered shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Thursday, September 7th. They noted that the move was a valuation call. Robert W. Baird restated a “neutral” rating and issued a $99.00 price objective (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Varian Medical Systems has an average rating of “Hold” and an average target price of $97.39.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) traded up 0.75% during midday trading on Wednesday, reaching $106.98. 222,462 shares of the company’s stock traded hands. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.87. The stock has a 50-day moving average price of $102.10 and a 200-day moving average price of $97.84. The stock has a market cap of $9.82 billion, a P/E ratio of 35.21 and a beta of 0.58.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $663.86 million. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 EPS. Analysts forecast that Varian Medical Systems, Inc. will post $3.93 earnings per share for the current year.

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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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