Papp L Roy & Associates decreased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,840 shares of the medical equipment provider’s stock after selling 800 shares during the period. Papp L Roy & Associates’ holdings in Varian Medical Systems were worth $3,393,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in VAR. Point72 Asia Hong Kong Ltd acquired a new position in shares of Varian Medical Systems during the 1st quarter worth approximately $100,000. Summit Trail Advisors LLC boosted its position in shares of Varian Medical Systems by 28,765.9% during the 1st quarter. Summit Trail Advisors LLC now owns 100,742 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 100,393 shares in the last quarter. Signaturefd LLC acquired a new stake in shares of Varian Medical Systems during the 1st quarter worth approximately $106,000. Squar Milner Financial Services LLC acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $117,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $118,000. 92.42% of the stock is owned by institutional investors.

A number of analysts have weighed in on VAR shares. JPMorgan Chase & Co. lowered shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Thursday, June 28th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $117.43.

VAR traded down $0.32 during midday trading on Friday, hitting $111.74. The company had a trading volume of 558,532 shares, compared to its average volume of 504,580. Varian Medical Systems, Inc. has a 52 week low of $98.34 and a 52 week high of $130.29. The company has a market cap of $10.05 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 3.09 and a beta of 0.79.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $709.10 million during the quarter, compared to analysts’ expectations of $663.19 million. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. analysts forecast that Varian Medical Systems, Inc. will post 4.45 earnings per share for the current fiscal year.

In related news, Director Timothy E. Guertin sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $110.84, for a total transaction of $1,108,400.00. Following the transaction, the director now directly owns 4,113 shares in the company, valued at $455,884.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Magnus Momsen sold 2,800 shares of Varian Medical Systems stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $111.68, for a total transaction of $312,704.00. The disclosure for this sale can be found here. Insiders have sold 15,089 shares of company stock valued at $1,678,785 over the last quarter. Corporate insiders own 0.78% of the company’s stock.

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 Varian Particle Therapy. The Oncology Systems segment provides 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.

See Also: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Varian Medical Systems (NYSE:VAR)

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