Varian Medical Systems Inc. (VAR) Shares Sold by Seaward Management Limited Partnership
Seaward Management Limited Partnership decreased its stake in shares of Varian Medical Systems Inc. (NYSE:VAR) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 21,630 shares of the company’s stock after selling 1,000 shares during the period. Seaward Management Limited Partnership’s holdings in Varian Medical Systems were worth $1,778,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Varian Medical Systems during the fourth quarter valued at about $71,418,000. Nordea Investment Management AB raised its stake in shares of Varian Medical Systems by 287.4% in the second quarter. Nordea Investment Management AB now owns 590,879 shares of the company’s stock valued at $48,588,000 after buying an additional 438,348 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Varian Medical Systems by 7.8% in the first quarter. Loomis Sayles & Co. L P now owns 5,429,072 shares of the company’s stock valued at $434,434,000 after buying an additional 393,120 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Varian Medical Systems by 10.7% in the first quarter. BlackRock Fund Advisors now owns 2,826,016 shares of the company’s stock valued at $226,138,000 after buying an additional 272,924 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Varian Medical Systems during the second quarter valued at about $22,278,000. 99.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Varian Medical Systems Inc. (NYSE:VAR) traded up 1.83% during mid-day trading on Wednesday, hitting $97.77. The stock had a trading volume of 535,866 shares. The stock’s 50-day moving average is $95.35 and its 200 day moving average is $86.10. The company has a market cap of $9.13 billion, a PE ratio of 24.81 and a beta of 0.76. Varian Medical Systems Inc. has a 12 month low of $71.07 and a 12 month high of $97.98.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The company earned $789.40 million during the quarter, compared to analysts’ expectations of $779.90 million. Varian Medical Systems had a return on equity of 25.01% and a net margin of 12.28%. Varian Medical Systems’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 earnings per share. On average, equities research analysts forecast that Varian Medical Systems Inc. will post $4.64 earnings per share for the current fiscal year.
VAR has been the subject of several research analyst reports. Citigroup Inc. raised their target price on Varian Medical Systems from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, July 28th. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Barrington Research decreased their price objective on Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Brean Capital lifted their price objective on Varian Medical Systems from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Jefferies Group reissued a “buy” rating on shares of Varian Medical Systems in a report on Tuesday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Varian Medical Systems presently has an average rating of “Hold” and a consensus target price of $89.60.
In other Varian Medical Systems news, SVP Clarence R. Verhoef sold 9,483 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $94.88, for a total value of $899,747.04. Following the completion of the sale, the senior vice president now owns 8,616 shares in the company, valued at $817,486.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Elisha W. Finney sold 9,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $96.95, for a total value of $872,550.00. Following the completion of the sale, the chief financial officer now owns 14,195 shares of the company’s stock, valued at approximately $1,376,205.25. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
About Varian Medical Systems
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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.
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