Cullen Frost Bankers Inc. acquired a new position in Varian Medical Systems, Inc. (NYSE:VAR) in the first quarter, HoldingsChannel reports. The institutional investor acquired 645 shares of the medical equipment provider’s stock, valued at approximately $91,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of VAR. Pearl River Capital LLC bought a new position in shares of Varian Medical Systems during the fourth quarter valued at $28,000. First Personal Financial Services increased its holdings in shares of Varian Medical Systems by 58.8% during the fourth quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 130 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Varian Medical Systems by 121.9% during the fourth quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 195 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Varian Medical Systems during the fourth quarter valued at $49,000. Finally, Moody National Bank Trust Division bought a new position in shares of Varian Medical Systems during the fourth quarter valued at $49,000. Institutional investors and hedge funds own 92.47% of the company’s stock.
Several brokerages have recently weighed in on VAR. Citigroup reduced their price target on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Monday, April 29th. UBS Group lifted their price objective on Varian Medical Systems from $150.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barrington Research lifted their price objective on Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Robert W. Baird upgraded Varian Medical Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $127.00 to $162.00 in a report on Friday, March 22nd. One equities 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. The company presently has an average rating of “Buy” and an average target price of $143.33.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.11). Varian Medical Systems had a return on equity of 24.40% and a net margin of 12.59%. The business had revenue of $779.40 million during the quarter, compared to the consensus estimate of $776.28 million. During the same quarter in the previous year, the business posted $1.15 earnings per share. Varian Medical Systems’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current fiscal year.
In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 6,517 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $130.10, for a total value of $847,861.70. Following the transaction, the executive vice president now directly owns 32,986 shares of the company’s stock, valued at $4,291,478.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dow R. Wilson sold 45,050 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $141.58, for a total value of $6,378,179.00. Following the completion of the transaction, the insider now directly owns 109,533 shares in the company, valued at $15,507,682.14. The disclosure for this sale can be found here. Insiders sold a total of 81,156 shares of company stock valued at $11,312,291 over the last quarter. 0.78% of the stock is owned by corporate insiders.
Varian Medical Systems Company Profile
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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