BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,687 shares of the medical equipment provider’s stock after selling 594 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Varian Medical Systems were worth $10,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of VAR. Pearl River Capital LLC bought a new stake in Varian Medical Systems in the 4th quarter valued at $28,000. First Personal Financial Services raised its stake in Varian Medical Systems by 58.8% in the 4th quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 130 shares during the period. Global Retirement Partners LLC raised its stake in Varian Medical Systems by 121.9% in the 4th quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 195 shares during the period. Financial Gravity Companies Inc. bought a new stake in Varian Medical Systems in the 4th quarter valued at $49,000. Finally, Liberty Wealth Management LLC bought a new position in Varian Medical Systems during the 4th quarter worth $54,000. Institutional investors and hedge funds own 92.63% of the company’s stock.

VAR has been the topic of several recent research reports. UBS Group increased their price objective on Varian Medical Systems from $150.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barrington Research reiterated a “buy” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. Jefferies Financial Group increased their price objective on Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. Citigroup lowered their price objective on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $143.33.

In other news, SVP John W. Kuo sold 465 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $130.11, for a total transaction of $60,501.15. Following the sale, the senior vice president now directly owns 35,566 shares of the company’s stock, valued at approximately $4,627,492.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher A. Toth sold 4,621 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $135.17, for a total value of $624,620.57. Following the sale, the senior vice president now directly owns 2,936 shares in the company, valued at $396,859.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,677 shares of company stock worth $10,076,540. 0.78% of the stock is currently owned by insiders.

VAR opened at $128.46 on Thursday. The firm has a market cap of $11.85 billion, a PE ratio of 29.06, a P/E/G ratio of 3.48 and a beta of 0.81. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $142.50.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.11). The company had revenue of $779.40 million for the quarter, compared to analyst estimates of $776.28 million. Varian Medical Systems had a return on equity of 24.40% and a net margin of 12.59%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. Research analysts anticipate that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current year.

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About Varian Medical Systems

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.

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

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