Varian Medical Systems, Inc. (NYSE:VAR) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 150.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 81,496 shares of the medical equipment provider’s stock after buying an additional 48,933 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Varian Medical Systems were worth $9,705,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VAR. FMR LLC increased its stake 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 last quarter. Nuveen Asset Management LLC increased its stake in Varian Medical Systems by 14,499.7% in the second quarter. Nuveen Asset Management LLC now owns 378,862 shares of the medical equipment provider’s stock valued at $51,574,000 after purchasing an additional 376,267 shares during the last quarter. BlackRock Inc. increased its stake in Varian Medical Systems by 4.0% in the second quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock valued at $1,132,117,000 after purchasing an additional 319,325 shares during the last quarter. Wells Fargo & Company MN increased its stake in Varian Medical Systems by 19.7% in the second quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock valued at $257,171,000 after purchasing an additional 311,004 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Varian Medical Systems by 42.1% in the second quarter. Invesco Ltd. now owns 702,878 shares of the medical equipment provider’s stock valued at $95,683,000 after purchasing an additional 208,094 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Shares of NYSE:VAR opened at $116.32 on Tuesday. The firm has a market capitalization of $10.44 billion, a PE ratio of 26.32, a P/E/G ratio of 2.74 and a beta of 0.87. The business has a 50-day moving average of $113.66 and a two-hundred day moving average of $124.65. Varian Medical Systems, Inc. has a 12 month low of $101.42 and a 12 month high of $142.50.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. The business had revenue of $825.80 million during the quarter, compared to analyst estimates of $762.29 million. During the same quarter last year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts predict that Varian Medical Systems, Inc. will post 4.63 EPS for the current year.

In other news, SVP John W. Kuo sold 465 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $113.83, for a total value of $52,930.95. Following the completion of the sale, the senior vice president now owns 35,566 shares in the company, valued at $4,048,477.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 1,395 shares of company stock valued at $158,388. Insiders own 0.74% of the company’s stock.

Several equities research analysts have commented on VAR shares. ValuEngine lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Robert W. Baird set a $158.00 price target on Varian Medical Systems and gave the stock a “buy” rating in a research note on Friday, July 26th. BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Monday, October 14th. Zacks Investment Research lowered Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price target for the company. in a research note on Saturday, July 27th. Finally, TheStreet lowered Varian Medical Systems from a “b” rating to a “c+” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $140.50.

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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