Varian Medical Systems, Inc. (VAR) Position Reduced by Disciplined Growth Investors Inc. MN
Disciplined Growth Investors Inc. MN lessened its position in Varian Medical Systems, Inc. (NYSE:VAR) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 745,900 shares of the medical equipment provider’s stock after selling 8,768 shares during the quarter. Varian Medical Systems comprises about 1.6% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 24th biggest position. Disciplined Growth Investors Inc. MN’s holdings in Varian Medical Systems were worth $84,824,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in VAR. Wells Fargo & Company MN increased its stake in Varian Medical Systems by 1.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,222,038 shares of the medical equipment provider’s stock worth $149,882,000 after acquiring an additional 16,202 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Varian Medical Systems in the 1st quarter worth approximately $377,000. Aperio Group LLC increased its stake in Varian Medical Systems by 1.7% in the 1st quarter. Aperio Group LLC now owns 94,848 shares of the medical equipment provider’s stock worth $11,633,000 after acquiring an additional 1,580 shares during the last quarter. Signaturefd LLC bought a new stake in Varian Medical Systems in the 1st quarter worth approximately $106,000. Finally, US Bancorp DE increased its stake in Varian Medical Systems by 11.8% in the 1st quarter. US Bancorp DE now owns 50,986 shares of the medical equipment provider’s stock worth $6,254,000 after acquiring an additional 5,366 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
A number of research firms have issued reports on VAR. JPMorgan Chase & Co. downgraded Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research note on Thursday, June 28th. Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Varian Medical Systems presently has an average rating of “Hold” and a consensus target price of $117.43.
Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.05. The firm had revenue of $709.10 million for the quarter, compared to the consensus estimate of $663.19 million. Varian Medical Systems had a return on equity of 27.51% and a net margin of 4.07%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. analysts forecast that Varian Medical Systems, Inc. will post 4.45 earnings per share for the current year.
In other Varian Medical Systems news, SVP John W. Kuo sold 962 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $108.84, for a total value of $104,704.08. Following the transaction, the senior vice president now owns 30,848 shares of the company’s stock, valued at approximately $3,357,496.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 1,327 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $115.28, for a total value of $152,976.56. Following the completion of the transaction, the senior vice president now directly owns 30,548 shares in the company, valued at approximately $3,521,573.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,089 shares of company stock worth $1,678,785. Corporate insiders own 0.78% of the company’s stock.
Varian Medical Systems Company Profile
Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.
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