Lazard Asset Management LLC Buys 25,831 Shares of Varian Medical Systems, Inc. (NYSE:VAR)

Lazard Asset Management LLC raised its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 26.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,118 shares of the medical equipment provider’s stock after buying an additional 25,831 shares during the quarter. Lazard Asset Management LLC’s holdings in Varian Medical Systems were worth $17,306,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc grew its holdings in shares of Varian Medical Systems by 1.1% during the third quarter. Vanguard Group Inc now owns 9,848,756 shares of the medical equipment provider’s stock worth $1,102,371,000 after purchasing an additional 106,728 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Varian Medical Systems by 12.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 20,526 shares of the medical equipment provider’s stock worth $2,326,000 after purchasing an additional 2,333 shares during the last quarter. Enlightenment Research LLC bought a new stake in shares of Varian Medical Systems during the fourth quarter worth about $57,000. Cognios Capital LLC bought a new stake in shares of Varian Medical Systems during the fourth quarter worth about $2,024,000. Finally, Comerica Bank grew its holdings in shares of Varian Medical Systems by 2.1% during the fourth quarter. Comerica Bank now owns 18,552 shares of the medical equipment provider’s stock worth $2,428,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.

In related news, CFO Gary E. Bischoping, Jr. sold 845 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $127.94, for a total value of $108,109.30. Following the sale, the chief financial officer now directly owns 2,283 shares in the company, valued at $292,087.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Toth sold 4,621 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $135.17, for a total value of $624,620.57. Following the completion of the sale, the senior vice president now owns 2,936 shares in the company, valued at $396,859.12. The disclosure for this sale can be found here. Insiders sold 71,978 shares of company stock worth $10,111,208 over the last quarter. 0.78% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on VAR. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Citigroup reduced their price target on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barrington Research boosted their price target on Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Robert W. Baird upgraded Varian Medical Systems from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $127.00 to $162.00 in a report on Friday, March 22nd. Finally, UBS Group boosted their price target on Varian Medical Systems from $150.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Varian Medical Systems has an average rating of “Buy” and a consensus price target of $143.33.

Shares of VAR stock opened at $132.08 on Friday. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $142.50. The company has a market capitalization of $12.00 billion, a P/E ratio of 29.88, a P/E/G ratio of 3.56 and a beta of 0.84.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.11). Varian Medical Systems had a net margin of 12.59% and a return on equity of 24.40%. The company 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 company earned $1.15 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Varian Medical Systems, Inc. will post 4.63 EPS for the current fiscal year.

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

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