Prudential PLC cut its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 4.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,100 shares of the medical equipment provider’s stock after selling 600 shares during the period. Prudential PLC’s holdings in Varian Medical Systems were worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Varian Medical Systems by 32.5% during the second quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock valued at $10,577,000 after purchasing an additional 25,152 shares in the last quarter. BB&T Securities LLC boosted its stake in shares of Varian Medical Systems by 50.7% during the second quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock valued at $801,000 after purchasing an additional 2,616 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Varian Medical Systems by 5.2% during the second quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock valued at $1,557,000 after purchasing an additional 740 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of Varian Medical Systems by 12.0% during the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock valued at $260,037,000 after purchasing an additional 269,633 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Varian Medical Systems by 4.6% during the first 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 purchasing an additional 87,522 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Shares of Varian Medical Systems, Inc. (VAR) opened at 100.40 on Wednesday. The company’s 50-day moving average is $103.88 and its 200-day moving average is $99.26. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.87. The stock has a market cap of $9.22 billion, a PE ratio of 33.05 and a beta of 0.56.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 EPS for the quarter, topping 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 company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. During the same quarter in the previous year, the business posted $1.00 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Varian Medical Systems, Inc. will post $3.93 EPS for the current year.

VAR has been the topic of a number of recent research reports. BidaskClub downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Royal Bank Of Canada reiterated a “hold” rating and set a $100.00 price objective on shares of Varian Medical Systems in a research note on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and set a $99.00 price objective on shares of Varian Medical Systems in a research note on Monday, August 28th. Finally, BTIG Research cut shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $94.94.

In other news, insider Dow R. Wilson sold 15,059 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $102.40, for a total value of $1,542,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $97.91, for a total transaction of $106,526.08. Following the completion of the transaction, the executive vice president now owns 26,600 shares of the company’s stock, valued at approximately $2,604,406. The disclosure for this sale can be found here. Insiders have sold a total of 58,486 shares of company stock valued at $5,960,501 in the last quarter. 0.91% of the stock is currently owned by company insiders.

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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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