United Fire Group Inc. held its stake in Varian Medical Systems, Inc. (NYSE:VAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,000 shares of the medical equipment provider’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Varian Medical Systems were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Teachers Advisors LLC raised its stake in Varian Medical Systems by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 107,778 shares of the medical equipment provider’s stock valued at $9,676,000 after buying an additional 4,000 shares during the period. Macquarie Group Ltd. raised its stake in Varian Medical Systems by 156.3% in the fourth quarter. Macquarie Group Ltd. now owns 4,100 shares of the medical equipment provider’s stock valued at $368,000 after buying an additional 2,500 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Varian Medical Systems by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 80,961 shares of the medical equipment provider’s stock valued at $7,378,000 after buying an additional 2,519 shares during the period. Creative Planning raised its stake in Varian Medical Systems by 0.5% in the first quarter. Creative Planning now owns 8,796 shares of the medical equipment provider’s stock valued at $802,000 after buying an additional 43 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in Varian Medical Systems by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 31,725 shares of the medical equipment provider’s stock valued at $2,891,000 after buying an additional 450 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) opened at 97.74 on Friday. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 32.17 and a beta of 0.61. The stock’s 50 day moving average price is $101.70 and its 200-day moving average price is $93.39. Varian Medical Systems, Inc. has a 52 week low of $75.20 and a 52 week high of $107.08.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts predict that Varian Medical Systems, Inc. will post $3.94 earnings per share for the current year.

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Several analysts recently weighed in on VAR shares. Off Wall Street started coverage on Varian Medical Systems in a research note on Monday, April 24th. They issued a “sell” rating on the stock. Royal Bank Of Canada raised their price objective on Varian Medical Systems from $82.00 to $90.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Barrington Research lowered Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Finally, TheStreet raised Varian Medical Systems from a “c+” rating to a “b+” rating in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $96.28.

In related news, Director Timothy E. Guertin sold 16,000 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $103.22, for a total transaction of $1,651,520.00. Following the completion of the sale, the director now directly owns 2,161 shares in the company, valued at approximately $223,058.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John W. Kuo sold 19,819 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $99.67, for a total value of $1,975,359.73. Following the sale, the senior vice president now owns 47,180 shares of the company’s stock, valued at $4,702,430.60. The disclosure for this sale can be found here. Insiders sold a total of 158,284 shares of company stock valued at $16,022,132 over the last quarter. Company insiders own 0.91% of the company’s stock.

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.

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

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