JPMorgan Chase & Co. boosted its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 199.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,523 shares of the medical equipment provider’s stock after purchasing an additional 233,547 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Varian Medical Systems worth $34,958,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in VAR. Sei Investments Co. grew its holdings in shares of Varian Medical Systems by 2.3% during the 2nd quarter. Sei Investments Co. now owns 11,593 shares of the medical equipment provider’s stock worth $1,196,000 after acquiring an additional 257 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Varian Medical Systems by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 432,659 shares of the medical equipment provider’s stock worth $44,647,000 after acquiring an additional 9,702 shares during the period. Conning Inc. grew its holdings in shares of Varian Medical Systems by 1.3% during the 2nd quarter. Conning Inc. now owns 2,381 shares of the medical equipment provider’s stock worth $246,000 after acquiring an additional 30 shares during the period. Dupont Capital Management Corp grew its holdings in shares of Varian Medical Systems by 19.6% during the 2nd quarter. Dupont Capital Management Corp now owns 6,465 shares of the medical equipment provider’s stock worth $667,000 after acquiring an additional 1,061 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Varian Medical Systems during the 2nd quarter worth approximately $1,446,000. Institutional investors own 99.15% of the company’s stock.

Varian Medical Systems, Inc. (NYSE VAR) traded down $0.80 during trading on Tuesday, hitting $111.18. The company had a trading volume of 378,200 shares, compared to its average volume of 860,503. The stock has a market cap of $10,259.26, a P/E ratio of 29.70, a P/E/G ratio of 3.29 and a beta of 0.67. Varian Medical Systems, Inc. has a 52 week low of $76.94 and a 52 week high of $113.58.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.10). The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $741.69 million. Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 EPS. research analysts forecast that Varian Medical Systems, Inc. will post 4.26 EPS for the current year.

A number of research firms have weighed in on VAR. Robert W. Baird reiterated a “hold” rating and set a $99.00 target price on shares of Varian Medical Systems in a report on Monday, August 28th. Royal Bank of Canada set a $105.00 target price on Varian Medical Systems and gave the stock a “hold” rating in a report on Thursday, November 30th. BTIG Research downgraded 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. Citigroup upped their target price on Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research downgraded Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $98.39.

In related news, EVP Kolleen T. Kennedy sold 931 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $105.00, for a total value of $97,755.00. Following the sale, the executive vice president now owns 27,531 shares in the company, valued at approximately $2,890,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Andrew Eckert sold 5,651 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $102.39, for a total value of $578,605.89. The disclosure for this sale can be found here. Insiders sold a total of 25,683 shares of company stock worth $2,645,965 in the last 90 days. 0.91% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY NOTICE: This article was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.dailypolitical.com/2017/12/12/varian-medical-systems-inc-var-shares-bought-by-jpmorgan-chase-co.html.

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.

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