Varian Medical Systems, Inc. (VAR) Holdings Raised by Bank of Montreal Can

Bank of Montreal Can raised its position in Varian Medical Systems, Inc. (NYSE:VAR) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,792 shares of the medical equipment provider’s stock after purchasing an additional 9,641 shares during the period. Bank of Montreal Can’s holdings in Varian Medical Systems were worth $11,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in shares of Varian Medical Systems by 6,258.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 529,609 shares of the medical equipment provider’s stock valued at $1,316,000 after buying an additional 521,280 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Varian Medical Systems by 40.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,145,010 shares of the medical equipment provider’s stock valued at $130,211,000 after buying an additional 331,736 shares during the last quarter. Mackay Shields LLC grew its position in shares of Varian Medical Systems by 1,045.4% in the 2nd quarter. Mackay Shields LLC now owns 331,080 shares of the medical equipment provider’s stock valued at $37,651,000 after buying an additional 302,175 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Varian Medical Systems in the 2nd quarter valued at $24,136,000. Finally, Martingale Asset Management L P grew its position in shares of Varian Medical Systems by 193.2% in the 2nd quarter. Martingale Asset Management L P now owns 314,583 shares of the medical equipment provider’s stock valued at $35,775,000 after buying an additional 207,274 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. JPMorgan Chase & Co. dropped their target price on shares of Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada set a $115.00 target price on shares of Varian Medical Systems and gave the company a “hold” rating in a research report on Thursday, October 4th. Finally, Robert W. Baird assumed coverage on shares of Varian Medical Systems in a research report on Friday, October 19th. They issued a “neutral” rating and a $119.00 target price on the stock. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $117.63.



Shares of NYSE:VAR opened at $110.94 on Friday. The firm has a market cap of $9.56 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. Varian Medical Systems, Inc. has a 1-year low of $101.42 and a 1-year high of $130.29.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.04). The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $766.26 million. Varian Medical Systems had a return on equity of 27.51% and a net margin of 4.07%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. Analysts forecast that Varian Medical Systems, Inc. will post 4.45 earnings per share for the current year.

In related news, SVP John W. Kuo sold 1,327 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $110.90, for a total transaction of $147,164.30. Following the completion of the sale, the senior vice president now owns 30,551 shares in the company, valued at approximately $3,388,105.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John W. Kuo sold 962 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $108.84, for a total transaction of $104,704.08. Following the sale, the senior vice president now owns 30,848 shares of the company’s stock, valued at approximately $3,357,496.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,051 shares of company stock valued at $1,774,728. 0.78% of the stock is owned by company insiders.

Varian Medical Systems 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 Varian Particle Therapy. The Oncology Systems segment provides 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.

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

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