Advisor Partners LLC bought a new position in shares of Varian Medical Systems, Inc. (NYSE:VAR) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,017 shares of the medical equipment provider’s stock, valued at approximately $223,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Hardman Johnston Global Advisors LLC increased its holdings in Varian Medical Systems by 0.5% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 229,872 shares of the medical equipment provider’s stock worth $23,001,000 after purchasing an additional 1,235 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Varian Medical Systems by 5.0% in the 3rd quarter. State of Wisconsin Investment Board now owns 85,312 shares of the medical equipment provider’s stock valued at $8,536,000 after acquiring an additional 4,025 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Varian Medical Systems by 7.0% in the 3rd quarter. California Public Employees Retirement System now owns 270,898 shares of the medical equipment provider’s stock valued at $27,106,000 after acquiring an additional 17,698 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Varian Medical Systems in the 3rd quarter valued at about $277,000. Finally, Neuberger Berman Group LLC grew its holdings in shares of Varian Medical Systems by 1.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 158,198 shares of the medical equipment provider’s stock valued at $15,829,000 after acquiring an additional 2,104 shares in the last quarter. Hedge funds and other institutional investors own 99.19% of the company’s stock.

In related news, EVP Kolleen T. Kennedy sold 2,018 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $111.97, for a total value of $225,955.46. Following the completion of the sale, the executive vice president now directly owns 27,749 shares in the company, valued at approximately $3,107,055.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 2,021 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $107.36, for a total transaction of $216,974.56. Following the completion of the sale, the executive vice president now owns 27,595 shares of the company’s stock, valued at $2,962,599.20. The disclosure for this sale can be found here. Insiders sold a total of 113,681 shares of company stock valued at $12,607,207 over the last quarter. 0.78% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on VAR. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday. JPMorgan Chase & Co. raised their price objective on Varian Medical Systems from $88.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada raised their price objective on Varian Medical Systems to $115.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Monday. Finally, Citigroup raised their price objective on Varian Medical Systems from $128.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $106.40.

Varian Medical Systems, Inc. (NYSE:VAR) opened at $128.57 on Tuesday. Varian Medical Systems, Inc. has a 1-year low of $76.94 and a 1-year high of $130.29. The firm has a market capitalization of $11,860.73, a PE ratio of 102.86, a PEG ratio of 3.76 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.06. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. The business had revenue of $678.50 million during the quarter, compared to the consensus estimate of $633.96 million. During the same period last year, the business posted $1.09 EPS. Varian Medical Systems’s revenue was up 12.8% on a year-over-year basis. equities analysts forecast that Varian Medical Systems, Inc. will post 4.31 earnings per share for the current year.

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About Varian Medical Systems

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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