Brinker Capital Inc. lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,760 shares of the medical equipment provider’s stock after selling 768 shares during the quarter. Brinker Capital Inc.’s holdings in Varian Medical Systems were worth $1,786,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Pearl River Capital LLC purchased a new position in shares of Varian Medical Systems in the fourth quarter worth $28,000. First Personal Financial Services lifted its holdings in shares of Varian Medical Systems by 58.8% in the fourth quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 130 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Varian Medical Systems in the fourth quarter worth $49,000. Moody National Bank Trust Division purchased a new position in shares of Varian Medical Systems in the fourth quarter worth $49,000. Finally, Enlightenment Research LLC purchased a new position in shares of Varian Medical Systems in the fourth quarter worth $57,000. 91.66% of the stock is currently owned by institutional investors and hedge funds.
In related news, CAO Magnus Momsen sold 2,800 shares of the business’s stock in a transaction on Thursday, January 3rd. The shares were sold at an average price of $110.17, for a total value of $308,476.00. Following the sale, the chief accounting officer now owns 3,281 shares in the company, valued at $361,467.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gary E. Bischoping, Jr. sold 300 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $131.69, for a total transaction of $39,507.00. Following the completion of the sale, the chief financial officer now owns 1,916 shares in the company, valued at approximately $252,318.04. The disclosure for this sale can be found here. Insiders sold 47,466 shares of company stock worth $6,105,577 in the last 90 days. 0.74% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on the stock. Goldman Sachs Group raised shares of Varian Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $107.00 to $129.00 in a report on Friday, January 4th. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. UBS Group assumed coverage on shares of Varian Medical Systems in a report on Wednesday, November 28th. They issued a “buy” rating and a $140.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Finally, Citigroup lowered their target price on shares of Varian Medical Systems from $145.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $130.63.
Shares of VAR opened at $136.64 on Wednesday. Varian Medical Systems, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $137.67. The firm has a market capitalization of $12.40 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 3.63 and a beta of 0.85.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The business had revenue of $741.00 million during the quarter, compared to the consensus estimate of $717.83 million. During the same quarter in the prior year, the firm posted $1.06 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts forecast that Varian Medical Systems, Inc. will post 4.7 EPS for the current fiscal year.
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.
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