State Treasurer State of Michigan Has $2.99 Million Position in Varian Medical Systems, Inc. (VAR)

State Treasurer State of Michigan reduced its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 26,854 shares of the medical equipment provider’s stock after selling 1,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Varian Medical Systems were worth $2,985,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. First Eagle Investment Management LLC raised its position in Varian Medical Systems by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock worth $478,161,000 after purchasing an additional 99,270 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Varian Medical Systems by 6.7% in the 4th quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock worth $164,846,000 after acquiring an additional 111,482 shares in the last quarter. Koch Industries Inc. raised its position in shares of Varian Medical Systems by 57,988.4% in the 2nd quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock worth $1,315,000 after acquiring an additional 1,325,615 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 worth $113,474,000 after acquiring an additional 155,954 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Varian Medical Systems by 15.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 816,983 shares of the medical equipment provider’s stock worth $81,748,000 after acquiring an additional 106,899 shares in the last quarter. 99.19% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Kolleen T. Kennedy sold 2,021 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $107.36, for a total value of $216,974.56. Following the completion of the sale, the executive vice president now directly owns 27,595 shares of the company’s stock, valued at approximately $2,962,599.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark R. Laret sold 2,161 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $126.97, for a total value of $274,382.17. The disclosure for this sale can be found here. Insiders sold a total of 139,842 shares of company stock valued at $15,923,110 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on the company. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research report on Sunday, January 28th. Zacks Investment Research raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Barrington Research raised Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price objective on Varian Medical Systems from $88.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, Citigroup lifted their price objective on Varian Medical Systems from $128.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Varian Medical Systems currently has a consensus rating of “Hold” and an average price target of $108.44.

Varian Medical Systems, Inc. (NYSE VAR) opened at $114.50 on Friday. Varian Medical Systems, Inc. has a 12-month low of $79.02 and a 12-month high of $130.29. The firm has a market capitalization of $10,490.00, a PE ratio of 82.37, a PEG ratio of 3.39 and a beta of 0.81.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.06. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The business had revenue of $678.50 million during the quarter, compared to analyst estimates of $633.96 million. During the same period in the previous year, the company posted $1.09 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. equities analysts anticipate that Varian Medical Systems, Inc. will post 4.31 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and international copyright laws. The legal version of this news story can be read at https://sportsperspectives.com/2018/02/10/state-treasurer-state-of-michigan-has-2-99-million-position-in-varian-medical-systems-inc-var.html.

Varian Medical Systems 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.

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply