New York State Common Retirement Fund decreased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 41.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,262 shares of the medical equipment provider’s stock after selling 227,056 shares during the period. New York State Common Retirement Fund owned 0.34% of Varian Medical Systems worth $32,532,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its stake in shares of Varian Medical Systems by 32.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock valued at $10,577,000 after buying an additional 25,152 shares during the period. BB&T Securities LLC grew its stake in shares of Varian Medical Systems by 50.7% in the 2nd quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock valued at $801,000 after buying an additional 2,616 shares during the period. California Public Employees Retirement System grew its stake in shares of Varian Medical Systems by 3.3% in the 1st quarter. California Public Employees Retirement System now owns 250,600 shares of the medical equipment provider’s stock valued at $22,837,000 after buying an additional 8,100 shares during the period. GHP Investment Advisors Inc. grew its stake in shares of Varian Medical Systems by 5.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock valued at $1,557,000 after buying an additional 740 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Varian Medical Systems by 4.6% in the 1st quarter. Bank of America Corp DE now owns 1,992,821 shares of the medical equipment provider’s stock valued at $181,605,000 after buying an additional 87,522 shares during the period. 99.28% of the stock is owned by institutional investors and hedge funds.

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

Varian Medical Systems, Inc. (NYSE:VAR) opened at 105.19 on Monday. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 34.62 and a beta of 0.58. Varian Medical Systems, Inc. has a one year low of $75.20 and a one year high of $107.87. The stock has a 50 day moving average of $102.10 and a 200 day moving average of $97.84.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm earned $1.00 earnings per share. Varian Medical Systems’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Varian Medical Systems, Inc. will post $3.93 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/25/new-york-state-common-retirement-fund-has-32-53-million-stake-in-varian-medical-systems-inc-var.html.

In related news, EVP Kolleen T. Kennedy sold 933 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $107.29, for a total value of $100,101.57. Following the completion of the sale, the executive vice president now directly owns 27,533 shares in the company, valued at $2,954,015.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $107.33, for a total transaction of $116,775.04. Following the completion of the sale, the executive vice president now owns 27,688 shares of the company’s stock, valued at $2,971,753.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,787 shares of company stock valued at $5,600,457. 0.91% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

Receive News & Ratings for Varian Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.