Korea Investment CORP Has $4.49 Million Stake in Varian Medical Systems, Inc. (VAR)

Korea Investment CORP trimmed its position in Varian Medical Systems, Inc. (NYSE:VAR) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,593 shares of the medical equipment provider’s stock after selling 4,800 shares during the quarter. Korea Investment CORP’s holdings in Varian Medical Systems were worth $4,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc raised its stake in Varian Medical Systems by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 9,848,756 shares of the medical equipment provider’s stock worth $1,102,371,000 after acquiring an additional 106,728 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Varian Medical Systems by 2.4% in the third quarter. Loomis Sayles & Co. L P now owns 5,591,904 shares of the medical equipment provider’s stock valued at $625,902,000 after purchasing an additional 130,882 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Varian Medical Systems by 1.6% in the third quarter. Janus Henderson Group PLC now owns 3,202,759 shares of the medical equipment provider’s stock valued at $358,485,000 after acquiring an additional 50,417 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Varian Medical Systems by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,289,414 shares of the medical equipment provider’s stock valued at $146,103,000 after acquiring an additional 16,717 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Varian Medical Systems by 147.8% in the third quarter. Renaissance Technologies LLC now owns 1,215,993 shares of the medical equipment provider’s stock valued at $136,106,000 after acquiring an additional 725,193 shares in the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.

Shares of NYSE VAR opened at $136.31 on Friday. Varian Medical Systems, Inc. has a 12-month low of $101.42 and a 12-month high of $137.67. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 3.60 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 (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). Varian Medical Systems had a net margin of 12.28% and a return on equity of 26.18%. The business had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $717.83 million. During the same period last year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities research analysts expect that Varian Medical Systems, Inc. will post 4.7 EPS for the current fiscal year.

Several brokerages have recently weighed in on VAR. Zacks Investment Research raised shares of Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 target price on the stock in a report on Saturday, January 26th. Barrington Research reissued a “buy” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. Royal Bank of Canada boosted their price objective 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, Jefferies Financial Group boosted their price objective on shares of Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $130.63.

In other Varian Medical Systems news, CFO Gary E. Bischoping, Jr. sold 300 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $131.69, for a total value of $39,507.00. Following the sale, the chief financial officer now owns 1,916 shares of the company’s stock, valued at $252,318.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kolleen T. Kennedy sold 6,462 shares of the company’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $125.00, for a total transaction of $807,750.00. Following the completion of the sale, the executive vice president now directly owns 26,898 shares in the company, valued at approximately $3,362,250. The disclosure for this sale can be found here. Insiders sold 47,466 shares of company stock worth $6,105,577 in the last ninety days. Insiders own 0.74% of the company’s stock.

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

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