Hardman Johnston Global Advisors LLC reduced its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,647 shares of the medical equipment provider’s stock after selling 1,520 shares during the period. Varian Medical Systems accounts for about 1.0% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 29th largest position. Hardman Johnston Global Advisors LLC’s holdings in Varian Medical Systems were worth $23,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in VAR. Intact Investment Management Inc. acquired a new stake in Varian Medical Systems during the 2nd quarter worth approximately $205,000. Motley Fool Wealth Management LLC increased its position in Varian Medical Systems by 3.3% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 48,918 shares of the medical equipment provider’s stock worth $5,563,000 after purchasing an additional 1,548 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Varian Medical Systems by 81.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 64,102 shares of the medical equipment provider’s stock worth $7,290,000 after purchasing an additional 28,680 shares in the last quarter. OppenheimerFunds Inc. increased its position in Varian Medical Systems by 87.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,456 shares of the medical equipment provider’s stock worth $507,000 after purchasing an additional 2,085 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in Varian Medical Systems by 5.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 89,140 shares of the medical equipment provider’s stock worth $10,137,000 after purchasing an additional 4,898 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Shares of NYSE:VAR opened at $108.65 on Thursday. Varian Medical Systems, Inc. has a 52-week low of $99.00 and a 52-week high of $130.29. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 3.15 and a beta of 0.78.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The company had revenue of $709.10 million during the quarter, compared to the consensus estimate of $663.19 million. During the same quarter last year, the company earned $1.04 earnings per share. Varian Medical Systems’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts forecast that Varian Medical Systems, Inc. will post 4.45 EPS for the current fiscal year.

In other Varian Medical Systems news, SVP John W. Kuo sold 962 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $108.84, for a total value of $104,704.08. Following the completion of the sale, the senior vice president now owns 30,848 shares of the company’s stock, valued at $3,357,496.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John W. Kuo sold 862 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $105.26, for a total transaction of $90,734.12. Following the completion of the sale, the senior vice president now directly owns 30,686 shares of the company’s stock, valued at approximately $3,230,008.36. The disclosure for this sale can be found here. Insiders sold 16,051 shares of company stock valued at $1,774,728 in the last ninety days. 0.78% of the stock is owned by corporate insiders.

A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Royal Bank of Canada set a $115.00 target price on shares of Varian Medical Systems and gave the stock a “hold” rating in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. downgraded shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research report on Thursday, June 28th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $117.43.

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

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