Varian Medical Systems, Inc. (VAR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 603,622 shares of the medical equipment provider’s stock after selling 53,707 shares during the quarter. Russell Investments Group Ltd. owned 0.66% of Varian Medical Systems worth $60,395,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Varian Medical Systems by 15.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,134,054 shares of the medical equipment provider’s stock valued at $113,474,000 after buying an additional 155,954 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Varian Medical Systems by 0.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 113,708 shares of the medical equipment provider’s stock valued at $11,440,000 after buying an additional 546 shares in the last quarter. Rhumbline Advisers lifted its stake in Varian Medical Systems by 2.5% in the 3rd quarter. Rhumbline Advisers now owns 217,603 shares of the medical equipment provider’s stock valued at $21,773,000 after buying an additional 5,356 shares in the last quarter. Toronto Dominion Bank lifted its stake in Varian Medical Systems by 11.8% in the 3rd quarter. Toronto Dominion Bank now owns 34,827 shares of the medical equipment provider’s stock valued at $3,484,000 after buying an additional 3,669 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Varian Medical Systems by 2.1% in the 3rd quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock valued at $478,161,000 after buying an additional 99,270 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors and hedge funds.

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In other news, insider Dow R. Wilson sold 15,059 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $105.41, for a total transaction of $1,587,369.19. Following the completion of the sale, the insider now directly owns 81,835 shares in the company, valued at approximately $8,626,227.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kolleen T. Kennedy sold 931 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $105.00, for a total value of $97,755.00. Following the sale, the executive vice president now owns 27,531 shares of the company’s stock, valued at $2,890,755. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,761 shares of company stock worth $4,447,864. Corporate insiders own 0.91% of the company’s stock.

Shares of Varian Medical Systems, Inc. (VAR) traded down $0.19 during trading on Friday, hitting $109.03. The company’s stock had a trading volume of 574,546 shares, compared to its average volume of 873,314. Varian Medical Systems, Inc. has a one year low of $76.94 and a one year high of $109.71. The stock has a market cap of $10,010.00, a price-to-earnings ratio of 29.00, a PEG ratio of 3.21 and a beta of 0.65. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The business had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $741.69 million. During the same period in the prior year, the company earned $1.03 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. analysts forecast that Varian Medical Systems, Inc. will post 4.26 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on VAR shares. BidaskClub lowered Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a research note on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Finally, Citigroup Inc. upped their target price on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus target price of $97.83.

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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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

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