First Merchants Corp increased its position in shares of Varian Medical Systems Inc. (NYSE:VAR) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 13,511 shares of the company’s stock after buying an additional 176 shares during the period. First Merchants Corp’s holdings in Varian Medical Systems were worth $1,111,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Varian Medical Systems during the fourth quarter worth about $71,418,000. Nordea Investment Management AB boosted its stake in Varian Medical Systems by 287.4% in the second quarter. Nordea Investment Management AB now owns 590,879 shares of the company’s stock worth $48,588,000 after buying an additional 438,348 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Varian Medical Systems by 7.8% in the first quarter. Loomis Sayles & Co. L P now owns 5,429,072 shares of the company’s stock worth $434,434,000 after buying an additional 393,120 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Varian Medical Systems by 10.7% in the first quarter. BlackRock Fund Advisors now owns 2,826,016 shares of the company’s stock worth $226,138,000 after buying an additional 272,924 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Varian Medical Systems during the second quarter worth about $22,278,000. Institutional investors own 99.65% of the company’s stock.
Varian Medical Systems Inc. (NYSE:VAR) traded up 1.83% on Wednesday, reaching $97.77. The company had a trading volume of 535,866 shares. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 24.81 and a beta of 0.76. The company’s 50 day moving average price is $95.35 and its 200-day moving average price is $86.10. Varian Medical Systems Inc. has a 12 month low of $71.07 and a 12 month high of $97.98.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. Varian Medical Systems had a return on equity of 25.01% and a net margin of 12.28%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 earnings per share. On average, equities analysts predict that Varian Medical Systems Inc. will post $4.64 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on VAR shares. Citigroup Inc. raised their target price on Varian Medical Systems from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Barrington Research lowered their price target on Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Brean Capital raised their price target on Varian Medical Systems from $87.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Jefferies Group reissued a “buy” rating on shares of Varian Medical Systems in a report on Tuesday, May 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Varian Medical Systems presently has a consensus rating of “Hold” and an average price target of $89.60.
In other Varian Medical Systems news, CFO Elisha W. Finney sold 9,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $96.95, for a total value of $872,550.00. Following the transaction, the chief financial officer now owns 14,195 shares of the company’s stock, valued at $1,376,205.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Clarence R. Verhoef sold 9,483 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $94.88, for a total value of $899,747.04. Following the completion of the transaction, the senior vice president now directly owns 8,616 shares in the company, valued at approximately $817,486.08. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
Varian Medical Systems Company Profile
Varian Medical Systems Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.
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