BlackRock Inc. grew its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,423,626 shares of the medical equipment provider’s stock after purchasing an additional 523,858 shares during the period. BlackRock Inc. owned 9.19% of Varian Medical Systems worth $869,233,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Varian Medical Systems by 3.3% during the first quarter. Vanguard Group Inc. now owns 9,007,195 shares of the medical equipment provider’s stock worth $820,826,000 after purchasing an additional 286,939 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Varian Medical Systems by 0.8% during the second quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock worth $482,875,000 after purchasing an additional 38,005 shares during the period. State Street Corp raised its holdings in shares of Varian Medical Systems by 1.3% during the first quarter. State Street Corp now owns 4,324,762 shares of the medical equipment provider’s stock worth $394,109,000 after purchasing an additional 57,090 shares during the period. Janus Capital Management LLC raised its holdings in shares of Varian Medical Systems by 8.5% during the first quarter. Janus Capital Management LLC now owns 3,932,124 shares of the medical equipment provider’s stock worth $358,332,000 after purchasing an additional 306,975 shares during the period. Finally, Fiera Capital Corp raised its holdings in shares of Varian Medical Systems by 12.0% during the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after purchasing an additional 269,633 shares during the period. 99.28% of the stock is currently owned by institutional investors.

Varian Medical Systems, Inc. (NYSE VAR) opened at 106.18 on Wednesday. The stock’s 50 day moving average is $102.10 and its 200 day moving average is $97.84. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 34.95 and a beta of 0.58. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.87.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.09. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.00 earnings per share. On average, analysts predict that Varian Medical Systems, Inc. will post $3.93 earnings per share for the current fiscal year.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $104.49, for a total transaction of $113,685.12. Following the completion of the transaction, the executive vice president now directly owns 27,688 shares of the company’s stock, valued at $2,893,119.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kolleen T. Kennedy sold 2,021 shares of Varian Medical Systems stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $104.73, for a total value of $211,659.33. Following the transaction, the executive vice president now directly owns 27,688 shares of the company’s stock, valued at $2,899,764.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,787 shares of company stock valued at $5,600,457. Company insiders own 0.91% of the company’s stock.

A number of brokerages have weighed in on VAR. BTIG Research cut shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Thursday, September 7th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “hold” rating and set a $100.00 target price on shares of Varian Medical Systems in a report on Friday, September 1st. Zacks Investment Research cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Robert W. Baird reissued a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Finally, BidaskClub raised shares of Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $97.39.

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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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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

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