Oregon Public Employees Retirement Fund Sells 403 Shares of Varian Medical Systems, Inc. (NYSE:VAR)

Oregon Public Employees Retirement Fund lessened its position in Varian Medical Systems, Inc. (NYSE:VAR) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,354 shares of the medical equipment provider’s stock after selling 403 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Varian Medical Systems were worth $2,890,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Varian Medical Systems by 4.0% in the 2nd quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock worth $1,132,117,000 after acquiring an additional 319,325 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in Varian Medical Systems by 2.2% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 727,055 shares of the medical equipment provider’s stock worth $86,585,000 after acquiring an additional 15,365 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Varian Medical Systems by 2.9% in the 4th quarter. Boston Trust Walden Corp now owns 468,371 shares of the medical equipment provider’s stock worth $66,513,000 after acquiring an additional 13,029 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Varian Medical Systems by 0.3% in the 4th quarter. Russell Investments Group Ltd. now owns 441,767 shares of the medical equipment provider’s stock worth $62,584,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Varian Medical Systems by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 343,268 shares of the medical equipment provider’s stock worth $48,747,000 after acquiring an additional 6,238 shares during the last quarter. 89.16% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Christopher A. Toth sold 564 shares of Varian Medical Systems stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $138.95, for a total transaction of $78,367.80. Following the sale, the senior vice president now owns 1,830 shares of the company’s stock, valued at approximately $254,278.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kolleen T. Kennedy sold 6,106 shares of Varian Medical Systems stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $143.28, for a total transaction of $874,867.68. Following the transaction, the insider now directly owns 32,680 shares of the company’s stock, valued at $4,682,390.40. The disclosure for this sale can be found here. Insiders have sold a total of 18,417 shares of company stock worth $2,634,243 in the last ninety days. Insiders own 0.62% of the company’s stock.

A number of equities research analysts have recently weighed in on VAR shares. Goldman Sachs Group started coverage on shares of Varian Medical Systems in a research note on Wednesday. They set a “buy” rating and a $171.00 target price on the stock. Barrington Research reaffirmed an “outperform” rating and set a $160.00 target price (up previously from $152.00) on shares of Varian Medical Systems in a research note on Thursday, January 30th. Evercore ISI raised shares of Varian Medical Systems from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $164.00 in a research note on Thursday, January 2nd. Robert W. Baird lifted their target price on shares of Varian Medical Systems from $158.00 to $166.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, UBS Group lifted their target price on shares of Varian Medical Systems from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $161.38.

Shares of VAR opened at $146.92 on Friday. The firm’s 50-day moving average price is $145.18 and its 200-day moving average price is $126.97. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 45.77, a PEG ratio of 3.31 and a beta of 0.95. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.06. Varian Medical Systems, Inc. has a 1-year low of $103.92 and a 1-year high of $150.06.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, January 29th. The medical equipment provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.05). The company had revenue of $828.90 million for the quarter, compared to the consensus estimate of $829.36 million. Varian Medical Systems had a net margin of 8.92% and a return on equity of 24.40%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. On average, research analysts forecast that Varian Medical Systems, Inc. will post 5.38 EPS for the current fiscal year.

About Varian Medical Systems

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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