Varian Medical Systems, Inc. (NYSE:VAR) Shares Sold by Mackay Shields LLC

Mackay Shields LLC lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 19.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,866 shares of the medical equipment provider’s stock after selling 5,861 shares during the period. Mackay Shields LLC’s holdings in Varian Medical Systems were worth $2,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its position in shares of Varian Medical Systems by 2.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,518 shares of the medical equipment provider’s stock worth $8,878,000 after purchasing an additional 1,634 shares in the last quarter. Credit Suisse AG increased its position in shares of Varian Medical Systems by 18.6% during the fourth quarter. Credit Suisse AG now owns 147,740 shares of the medical equipment provider’s stock worth $20,980,000 after purchasing an additional 23,134 shares in the last quarter. Norges Bank acquired a new stake in shares of Varian Medical Systems during the fourth quarter worth about $107,285,000. Eads & Heald Wealth Management increased its position in shares of Varian Medical Systems by 1.9% during the fourth quarter. Eads & Heald Wealth Management now owns 7,465 shares of the medical equipment provider’s stock worth $1,060,000 after purchasing an additional 140 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Varian Medical Systems by 30.3% during the fourth quarter. Guggenheim Capital LLC now owns 37,444 shares of the medical equipment provider’s stock worth $5,318,000 after purchasing an additional 8,697 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Several brokerages recently issued reports on VAR. Goldman Sachs Group cut Varian Medical Systems from a “buy” rating to a “neutral” rating and dropped their price target for the company from $171.00 to $114.00 in a research report on Wednesday, April 1st. ValuEngine cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating and set a $121.00 price target on the stock in a research report on Friday, April 10th. BTIG Research restated a “buy” rating and issued a $133.00 price target on shares of Varian Medical Systems in a research report on Monday, May 4th. Finally, Piper Sandler boosted their price target on Varian Medical Systems from $126.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $124.78.

Shares of VAR opened at $115.41 on Friday. Varian Medical Systems, Inc. has a twelve month low of $89.62 and a twelve month high of $150.06. The stock’s 50 day moving average is $111.45 and its two-hundred day moving average is $128.07. The firm has a market capitalization of $10.51 billion, a PE ratio of 42.43, a P/E/G ratio of 4.16 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Monday, May 4th. The medical equipment provider reported $0.85 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.85. Varian Medical Systems had a return on equity of 22.93% and a net margin of 7.51%. The company had revenue of $794.50 million for the quarter, compared to analyst estimates of $769.99 million. During the same quarter in the previous year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Varian Medical Systems, Inc. will post 3.6 EPS for the current year.

In other Varian Medical Systems news, CEO Dow R. Wilson sold 38,909 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $110.00, for a total value of $4,279,990.00. Following the sale, the chief executive officer now owns 121,267 shares of the company’s stock, valued at approximately $13,339,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is currently owned by insiders.

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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