Varian Medical Systems, Inc. (VAR) Stake Increased by Suntrust Banks Inc.

Suntrust Banks Inc. lifted its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,009 shares of the medical equipment provider’s stock after buying an additional 7,804 shares during the quarter. Suntrust Banks Inc.’s holdings in Varian Medical Systems were worth $3,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in VAR. Renaissance Technologies LLC grew its position in shares of Varian Medical Systems by 147.8% during the third quarter. Renaissance Technologies LLC now owns 1,215,993 shares of the medical equipment provider’s stock worth $136,106,000 after buying an additional 725,193 shares in the last quarter. Schroder Investment Management Group lifted its stake in Varian Medical Systems by 144.6% during the third quarter. Schroder Investment Management Group now owns 715,358 shares of the medical equipment provider’s stock worth $80,070,000 after purchasing an additional 422,951 shares during the last quarter. Deutsche Bank AG lifted its stake in Varian Medical Systems by 154.3% during the third quarter. Deutsche Bank AG now owns 567,957 shares of the medical equipment provider’s stock worth $63,567,000 after purchasing an additional 344,639 shares during the last quarter. Polar Capital LLP bought a new position in Varian Medical Systems during the fourth quarter worth $28,824,000. Finally, Rehmann Capital Advisory Group lifted its stake in Varian Medical Systems by 10,535.3% during the third quarter. Rehmann Capital Advisory Group now owns 181,438 shares of the medical equipment provider’s stock worth $1,621,000 after purchasing an additional 179,732 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on VAR. Robert W. Baird upgraded Varian Medical Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $127.00 to $162.00 in a research note on Friday. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 price objective on the stock in a research note on Saturday, January 26th. Barrington Research restated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. Royal Bank of Canada raised their price objective on Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 24th. Finally, BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $136.00.



In related news, insider Kolleen T. Kennedy sold 1,243 shares of Varian Medical Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $132.96, for a total transaction of $165,269.28. Following the transaction, the insider now directly owns 27,441 shares of the company’s stock, valued at $3,648,555.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Christopher A. Toth sold 4,621 shares of Varian Medical Systems stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $135.17, for a total value of $624,620.57. Following the transaction, 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 ninety days, insiders have sold 52,087 shares of company stock worth $6,730,198. 0.74% of the stock is owned by corporate insiders.

VAR stock opened at $138.59 on Monday. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 31.36, a P/E/G ratio of 3.66 and a beta of 0.85. Varian Medical Systems, Inc. has a 1 year low of $101.42 and a 1 year high of $141.53.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $741.00 million for the quarter, compared to the consensus estimate of $717.83 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Varian Medical Systems’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Varian Medical Systems, Inc. will post 4.73 EPS for the current fiscal year.

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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 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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