Lucus Advisors LLC decreased its stake in Varian Medical Systems Inc. (NYSE:VAR) by 35.0% during the second quarter, Holdings Channel reports. The firm owned 4,253 shares of the company’s stock after selling 2,289 shares during the period. Lucus Advisors LLC’s holdings in Varian Medical Systems were worth $350,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Invictus RG acquired a new stake in shares of Varian Medical Systems during the first quarter valued at $132,000. Motley Fool Wealth Management LLC raised its stake in shares of Varian Medical Systems by 9.6% in the first quarter. Motley Fool Wealth Management LLC now owns 32,514 shares of the company’s stock valued at $2,602,000 after buying an additional 2,853 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Varian Medical Systems during the first quarter valued at $13,975,000. Acrospire Investment Management LLC acquired a new stake in shares of Varian Medical Systems during the first quarter valued at $104,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Varian Medical Systems by 43.4% in the first quarter. JPMorgan Chase & Co. now owns 59,346 shares of the company’s stock valued at $4,748,000 after buying an additional 17,966 shares during the period. 99.65% of the stock is currently owned by institutional investors and hedge funds.
Varian Medical Systems Inc. (NYSE:VAR) traded up 1.00% during mid-day trading on Friday, hitting $99.53. The company had a trading volume of 1,152,026 shares. Varian Medical Systems Inc. has a 52-week low of $73.18 and a 52-week high of $100.07. The stock’s 50 day moving average price is $95.99 and its 200 day moving average price is $86.95. The firm has a market cap of $9.29 billion, a P/E ratio of 25.26 and a beta of 0.76.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.05. Varian Medical Systems had a return on equity of 25.01% and a net margin of 12.28%. The business had revenue of $789.40 million for the quarter, compared to analysts’ expectations of $779.90 million. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that Varian Medical Systems Inc. will post $4.64 EPS for the current fiscal year.
Several brokerages have recently weighed in on VAR. Robert W. Baird raised their target price on Varian Medical Systems from $91.00 to $99.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Group restated a “buy” rating and set a $98.00 price target on shares of Varian Medical Systems in a research note on Wednesday. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Tuesday. Barrington Research dropped their price target on Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Morgan Stanley raised their price target on Varian Medical Systems from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Varian Medical Systems currently has an average rating of “Hold” and an average target price of $91.33.
In other Varian Medical Systems news, SVP John W. Kuo sold 4,073 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $95.47, for a total transaction of $388,849.31. Following the sale, the senior vice president now owns 28,100 shares in the company, valued at $2,682,707. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dow R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $82.08, for a total value of $820,800.00. Following the sale, the chief executive officer now owns 70,598 shares in the company, valued at approximately $5,794,683.84. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.
About Varian Medical Systems
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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