Pflug Koory LLC Trims Holdings in Varian Medical Systems, Inc. (NYSE:VAR)

Pflug Koory LLC decreased its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,170 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. Pflug Koory LLC’s holdings in Varian Medical Systems were worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its position in Varian Medical Systems by 245.7% in the first quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock valued at $184,244,000 after purchasing an additional 923,949 shares during the period. BlackRock Inc. raised its position in Varian Medical Systems by 10.5% in the first quarter. BlackRock Inc. now owns 7,997,119 shares of the medical equipment provider’s stock valued at $1,133,353,000 after purchasing an additional 760,049 shares during the period. First Trust Advisors LP raised its position in Varian Medical Systems by 4,724.5% in the first quarter. First Trust Advisors LP now owns 316,002 shares of the medical equipment provider’s stock valued at $44,784,000 after purchasing an additional 309,452 shares during the period. TD Asset Management Inc. raised its position in Varian Medical Systems by 150.7% in the second quarter. TD Asset Management Inc. now owns 190,218 shares of the medical equipment provider’s stock valued at $25,894,000 after purchasing an additional 114,352 shares during the period. Finally, California Public Employees Retirement System raised its position in Varian Medical Systems by 23.3% in the first quarter. California Public Employees Retirement System now owns 585,040 shares of the medical equipment provider’s stock valued at $82,912,000 after purchasing an additional 110,568 shares during the period. Hedge funds and other institutional investors own 91.15% of the company’s stock.

Shares of VAR stock traded up $2.14 on Friday, hitting $109.46. The stock had a trading volume of 282,799 shares, compared to its average volume of 771,644. The firm has a market capitalization of $10.07 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.99 and a beta of 0.84. Varian Medical Systems, Inc. has a 1 year low of $101.42 and a 1 year high of $142.50. The company’s 50 day moving average price is $126.68 and its 200-day moving average price is $132.13.



Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.18. The firm had revenue of $825.80 million for the quarter, compared to the consensus estimate of $762.29 million. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. Equities analysts forecast that Varian Medical Systems, Inc. will post 4.62 earnings per share for the current fiscal year.

A number of equities research analysts have commented on the company. TheStreet downgraded Varian Medical Systems from a “b” rating to a “c+” rating in a research report on Monday, August 5th. Citigroup reduced their target price 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. Barrington Research restated a “buy” rating and issued a $142.00 target price on shares of Varian Medical Systems in a research report on Thursday, July 25th. Robert W. Baird set a $158.00 target price on Varian Medical Systems and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, UBS Group lifted their target price on Varian Medical Systems from $150.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $141.22.

In related news, CFO Gary E. Bischoping, Jr. sold 845 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $127.94, for a total value of $108,109.30. Following the sale, the chief financial officer now owns 2,283 shares in the company, valued at approximately $292,087.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Gary E. Bischoping, Jr. sold 56,232 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $132.56, for a total value of $7,454,113.92. Following the completion of the sale, the senior vice president now owns 27,393 shares in the company, valued at approximately $3,631,216.08. The disclosure for this sale can be found here. Insiders sold a total of 73,685 shares of company stock worth $9,806,184 in the last quarter. Company insiders own 0.78% of the company’s stock.

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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