Saratoga Research & Investment Management lessened its position in Varian Medical Systems, Inc. (NYSE:VAR) by 3.3% in the 4th quarter, HoldingsChannel reports. The firm owned 420,832 shares of the medical equipment provider’s stock after selling 14,366 shares during the period. Varian Medical Systems accounts for approximately 3.3% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 11th biggest holding. Saratoga Research & Investment Management’s holdings in Varian Medical Systems were worth $46,775,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Varian Medical Systems by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 116,976 shares of the medical equipment provider’s stock worth $12,070,000 after acquiring an additional 788 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Varian Medical Systems by 21.1% during the second quarter. Alliancebernstein L.P. now owns 209,362 shares of the medical equipment provider’s stock worth $21,604,000 after acquiring an additional 36,425 shares in the last quarter. Amalgamated Bank increased its position in shares of Varian Medical Systems by 50.5% during the second quarter. Amalgamated Bank now owns 10,812 shares of the medical equipment provider’s stock worth $1,116,000 after acquiring an additional 3,630 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Varian Medical Systems during the second quarter worth $1,040,000. Finally, Laurion Capital Management LP bought a new stake in shares of Varian Medical Systems during the second quarter worth $310,000.

Several equities research analysts have recently issued reports on VAR shares. Zacks Investment Research downgraded shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Citigroup increased their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Evercore ISI assumed coverage on shares of Varian Medical Systems in a report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 target price for the company. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Finally, Royal Bank of Canada set a $105.00 target price on shares of Varian Medical Systems and gave the stock a “hold” rating in a report on Thursday, November 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $100.44.

Varian Medical Systems, Inc. (VAR) opened at $109.57 on Friday. Varian Medical Systems, Inc. has a 1-year low of $76.94 and a 1-year high of $114.09. The company has a market cap of $10,015.56, a price-to-earnings ratio of 40.73, a P/E/G ratio of 3.32 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. equities research analysts forecast that Varian Medical Systems, Inc. will post 4.11 earnings per share for the current fiscal year.

In other Varian Medical Systems news, insider Dow R. Wilson sold 88,766 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $111.00, for a total value of $9,853,026.00. Following the completion of the sale, the insider now owns 155,542 shares in the company, valued at $17,265,162. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 2,018 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $111.97, for a total transaction of $225,955.46. Following the completion of the sale, the executive vice president now owns 27,749 shares of the company’s stock, valued at approximately $3,107,055.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,681 shares of company stock valued at $12,607,207. Corporate insiders own 0.78% of the company’s stock.

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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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