Jacobs Levy Equity Management Inc. lessened its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 57.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,976 shares of the medical equipment provider’s stock after selling 14,994 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Varian Medical Systems were worth $1,559,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in VAR. Duncker Streett & Co. Inc. purchased a new position in Varian Medical Systems in the 4th quarter worth about $27,000. CI Investments Inc. grew its position in shares of Varian Medical Systems by 842.9% during the 4th quarter. CI Investments Inc. now owns 396 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 354 shares in the last quarter. FTB Advisors Inc. grew its position in shares of Varian Medical Systems by 52.5% during the 4th quarter. FTB Advisors Inc. now owns 482 shares of the medical equipment provider’s stock worth $68,000 after buying an additional 166 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Varian Medical Systems by 250.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 560 shares of the medical equipment provider’s stock worth $80,000 after buying an additional 400 shares in the last quarter. Finally, Resources Management Corp CT ADV bought a new position in shares of Varian Medical Systems during the 3rd quarter worth $83,000. Hedge funds and other institutional investors own 90.15% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Barrington Research dropped their price target on Varian Medical Systems from $160.00 to $147.00 in a research report on Tuesday, March 10th. BTIG Research dropped their price objective on Varian Medical Systems from to in a research report on Tuesday, March 10th. Robert W. Baird dropped their price objective on Varian Medical Systems from $166.00 to $143.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 10th. Evercore ISI raised Varian Medical Systems from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $130.00 to $164.00 in a research report on Thursday, January 2nd. Finally, Zacks Investment Research raised Varian Medical Systems from a “sell” rating to a “hold” rating and set a $148.00 price objective on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $155.13.

Shares of NYSE:VAR opened at $104.85 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.29 and a quick ratio of 1.00. The business’s 50 day moving average price is $126.84 and its 200-day moving average price is $129.42. The firm has a market capitalization of $8.14 billion, a PE ratio of 32.66, a P/E/G ratio of 2.31 and a beta of 1.04. Varian Medical Systems, Inc. has a 1 year low of $89.62 and a 1 year high of $150.06.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, January 29th. The medical equipment provider reported $1.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.05). The company had revenue of $828.90 million for the quarter, compared to analyst estimates of $829.36 million. Varian Medical Systems had a return on equity of 24.40% and a net margin of 8.92%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. As a group, analysts expect that Varian Medical Systems, Inc. will post 4.85 earnings per share for the current year.

In other news, CAO Magnus Momsen sold 1,090 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $147.19, for a total transaction of $160,437.10. Following the completion of the transaction, the chief accounting officer now directly owns 1,717 shares of the company’s stock, valued at approximately $252,725.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dow R. Wilson sold 38,909 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $110.00, for a total value of $4,279,990.00. Following the transaction, the chief executive officer now directly owns 121,267 shares of the company’s stock, valued at $13,339,370. The disclosure for this sale can be found here. Insiders sold 54,595 shares of company stock worth $6,533,833 in the last 90 days. Company insiders own 0.62% 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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

Further Reading: Cost of Debt

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

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