13,113 Shares in Varian Medical Systems, Inc. (NYSE:VAR) Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. purchased a new position in shares of Varian Medical Systems, Inc. (NYSE:VAR) in the third quarter, HoldingsChannel reports. The fund purchased 13,113 shares of the medical equipment provider’s stock, valued at approximately $1,562,000.

A number of other large investors have also recently added to or reduced their stakes in VAR. FMR LLC boosted its position in Varian Medical Systems by 245.7% during the 1st quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock worth $184,244,000 after acquiring an additional 923,949 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Varian Medical Systems by 14,499.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 378,862 shares of the medical equipment provider’s stock worth $51,574,000 after acquiring an additional 376,267 shares during the last quarter. BlackRock Inc. boosted its position in Varian Medical Systems by 4.0% during the 2nd quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock worth $1,132,117,000 after acquiring an additional 319,325 shares during the last quarter. Wells Fargo & Company MN boosted its position in Varian Medical Systems by 19.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock worth $257,171,000 after acquiring an additional 311,004 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Varian Medical Systems by 4,724.5% during the 1st quarter. First Trust Advisors LP now owns 316,002 shares of the medical equipment provider’s stock worth $44,784,000 after acquiring an additional 309,452 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

In other Varian Medical Systems news, SVP John W. Kuo sold 465 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.30, for a total transaction of $54,079.50. Following the completion of the sale, the senior vice president now owns 35,411 shares of the company’s stock, valued at approximately $4,118,299.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.74% of the company’s stock.

A number of equities analysts have weighed in on VAR shares. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday. Robert W. Baird set a $158.00 price objective on Varian Medical Systems and gave the company a “buy” rating in a report on Friday, July 26th. TheStreet downgraded Varian Medical Systems from a “b” rating to a “c+” rating in a report on Monday, August 5th. ValuEngine downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Finally, Barrington Research increased their price objective on Varian Medical Systems from $142.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $140.50.

NYSE VAR opened at $113.47 on Thursday. The company has a market cap of $10.35 billion, a PE ratio of 25.67, a PEG ratio of 2.65 and a beta of 0.87. Varian Medical Systems, Inc. has a 12 month low of $101.42 and a 12 month high of $142.50. The stock has a 50 day moving average of $112.77 and a 200-day moving average of $125.32.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. The company had revenue of $825.80 million during 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 firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, equities analysts predict that Varian Medical Systems, Inc. will post 4.63 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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Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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