ING Groep NV bought a new stake in Varian Medical Systems, Inc. (NYSE:VAR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,004 shares of the medical equipment provider’s stock, valued at approximately $336,000.

A number of other large investors have also recently modified their holdings of the business. Bank of Montreal Can purchased a new position in shares of Varian Medical Systems during the second quarter worth $10,933,000. Amalgamated Bank boosted its position in shares of Varian Medical Systems by 6.0% during the second quarter. Amalgamated Bank now owns 14,251 shares of the medical equipment provider’s stock worth $1,621,000 after buying an additional 807 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Varian Medical Systems during the second quarter worth $5,805,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Varian Medical Systems by 97.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,720 shares of the medical equipment provider’s stock worth $143,000 after buying an additional 850 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Varian Medical Systems during the second quarter worth $2,200,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

VAR has been the subject of several research analyst reports. Citigroup raised their price target on Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, October 4th. Robert W. Baird began coverage on Varian Medical Systems in a report on Friday, October 19th. They issued a “neutral” rating and a $119.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating for the company in a report on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $119.25.

NYSE:VAR opened at $114.99 on Thursday. The firm has a market capitalization of $10.56 billion, a P/E ratio of 26.02, a P/E/G ratio of 3.08 and a beta of 0.64. Varian Medical Systems, Inc. has a 12-month low of $101.42 and a 12-month high of $130.29.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.04). The company had revenue of $801.60 million during the quarter, compared to analysts’ expectations of $766.26 million. Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. As a group, research analysts anticipate that Varian Medical Systems, Inc. will post 4.69 EPS for the current year.

In other Varian Medical Systems news, SVP John W. Kuo sold 1,324 shares of Varian Medical Systems stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $115.50, for a total transaction of $152,922.00. Following the completion of the sale, the senior vice president now directly owns 30,286 shares of the company’s stock, valued at approximately $3,498,033. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gary E. Bischoping, Jr. sold 845 shares of Varian Medical Systems stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total value of $101,602.80. Following the sale, the senior vice president now directly owns 1,000 shares of the company’s stock, valued at $120,240. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,423 shares of company stock valued at $2,278,268. 0.78% of the stock is currently owned by company insiders.

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

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