Bourne Lent Asset Management Inc. continued to hold its position in Varian Medical Systems Inc. (NYSE:VAR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,450 shares of the company’s stock at the end of the second quarter. Bourne Lent Asset Management Inc.’s holdings in Varian Medical Systems were worth $284,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FDO Partners LLC raised its position in Varian Medical Systems by 0.4% in the first quarter. FDO Partners LLC now owns 9,218 shares of the company’s stock worth $738,000 after buying an additional 35 shares during the last quarter. Covington Investment Advisors Inc. raised its position in Varian Medical Systems by 1.9% in the first quarter. Covington Investment Advisors Inc. now owns 7,325 shares of the company’s stock worth $586,000 after buying an additional 140 shares during the last quarter. First Republic Investment Management Inc. raised its position in Varian Medical Systems by 4.8% in the first quarter. First Republic Investment Management Inc. now owns 3,541 shares of the company’s stock worth $283,000 after buying an additional 161 shares during the last quarter. First Merchants Corp raised its position in Varian Medical Systems by 1.3% in the second quarter. First Merchants Corp now owns 13,511 shares of the company’s stock worth $1,111,000 after buying an additional 176 shares during the last quarter. Finally, Eagle Ridge Investment Management raised its position in Varian Medical Systems by 0.3% in the second quarter. Eagle Ridge Investment Management now owns 56,635 shares of the company’s stock worth $4,657,000 after buying an additional 180 shares during the last quarter. 99.65% of the stock is owned by hedge funds and other institutional investors.

Varian Medical Systems Inc. (NYSE:VAR) traded up 1.83% during mid-day trading on Wednesday, hitting $97.77. 535,866 shares of the company were exchanged. The company has a 50 day moving average of $95.26 and a 200 day moving average of $86.01. Varian Medical Systems Inc. has a 12-month low of $71.07 and a 12-month high of $97.98. The stock has a market cap of $9.13 billion, a P/E ratio of 24.81 and a beta of 0.76.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 27th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.05. Varian Medical Systems had a net margin of 12.28% and a return on equity of 25.01%. The business had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. During the same quarter in the prior year, the firm earned $1.15 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that Varian Medical Systems Inc. will post $4.64 earnings per share for the current fiscal year.

A number of research firms have issued reports on VAR. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Barrington Research reduced their target price on shares of Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Jefferies Group reissued a “buy” rating on shares of Varian Medical Systems in a research note on Friday, June 10th. Finally, Brean Capital boosted their price target on shares of Varian Medical Systems from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $89.60.

In other news, SVP John W. Kuo sold 4,073 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $95.47, for a total value of $388,849.31. Following the sale, the senior vice president now owns 28,100 shares of the company’s stock, valued at approximately $2,682,707. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Elisha W. Finney sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $95.82, for a total transaction of $191,640.00. Following the completion of the sale, the chief financial officer now directly owns 7,195 shares in the company, valued at approximately $689,424.90. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by 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.

5 Day Chart for NYSE:VAR

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