Motley Fool Wealth Management LLC decreased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,049 shares of the medical equipment provider’s stock after selling 127 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Varian Medical Systems were worth $7,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Burney Co. raised its position in Varian Medical Systems by 6.0% in the fourth quarter. Burney Co. now owns 33,780 shares of the medical equipment provider’s stock valued at $3,828,000 after purchasing an additional 1,915 shares during the period. LPL Financial LLC grew its stake in shares of Varian Medical Systems by 6.3% during the fourth quarter. LPL Financial LLC now owns 23,546 shares of the medical equipment provider’s stock worth $2,668,000 after purchasing an additional 1,400 shares in the last quarter. Polar Capital LLP acquired a new position in shares of Varian Medical Systems during the fourth quarter worth $28,824,000. Bank of America Corp DE grew its stake in shares of Varian Medical Systems by 1.6% during the fourth quarter. Bank of America Corp DE now owns 1,649,377 shares of the medical equipment provider’s stock worth $186,891,000 after purchasing an additional 26,529 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its stake in shares of Varian Medical Systems by 15.5% during the fourth quarter. State of Tennessee Treasury Department now owns 23,612 shares of the medical equipment provider’s stock worth $2,675,000 after purchasing an additional 3,177 shares in the last quarter. 92.63% of the stock is currently owned by institutional investors.

In other news, SVP Christopher A. Toth sold 4,621 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $135.17, for a total value of $624,620.57. Following the completion of the sale, the senior vice president now directly owns 2,936 shares of the company’s stock, valued at $396,859.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kolleen T. Kennedy sold 2,225 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $131.60, for a total transaction of $292,810.00. Following the completion of the sale, the insider now directly owns 28,581 shares of the company’s stock, valued at $3,761,259.60. The disclosure for this sale can be found here. Insiders sold 74,883 shares of company stock valued at $10,499,085 in the last 90 days. 0.78% of the stock is currently owned by insiders.

NYSE VAR opened at $130.52 on Friday. Varian Medical Systems, Inc. has a 1 year low of $101.42 and a 1 year high of $142.50. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 3.47 and a beta of 0.81.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.11). Varian Medical Systems had a net margin of 12.59% and a return on equity of 24.40%. The company had revenue of $779.40 million during the quarter, compared to analyst estimates of $776.28 million. During the same quarter in the prior year, the company earned $1.15 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Equities research analysts forecast that Varian Medical Systems, Inc. will post 4.69 EPS for the current fiscal year.

VAR has been the subject of a number of analyst reports. Robert W. Baird upgraded shares of Varian Medical Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $127.00 to $162.00 in a research note on Friday, March 22nd. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. Citigroup decreased their price objective on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 price objective for the company in a research note on Saturday, January 26th. Finally, Jefferies Financial Group upped their price objective on shares of Varian Medical Systems to $145.00 and gave the company a “buy” rating in a research note on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $143.33.

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About Varian Medical Systems

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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