Covington Investment Advisors Inc. maintained its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,545 shares of the medical equipment provider’s stock at the end of the second quarter. Covington Investment Advisors Inc.’s holdings in Varian Medical Systems were worth $675,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Varian Medical Systems by 156.3% in the fourth quarter. Macquarie Group Ltd. now owns 4,100 shares of the medical equipment provider’s stock valued at $368,000 after buying an additional 2,500 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Varian Medical Systems by 52.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,245 shares of the medical equipment provider’s stock valued at $934,000 after buying an additional 3,545 shares in the last quarter. First Manhattan Co. raised its stake in shares of Varian Medical Systems by 1.2% in the first quarter. First Manhattan Co. now owns 8,334 shares of the medical equipment provider’s stock valued at $829,000 after buying an additional 100 shares in the last quarter. Profund Advisors LLC raised its stake in shares of Varian Medical Systems by 14.4% in the first quarter. Profund Advisors LLC now owns 3,866 shares of the medical equipment provider’s stock valued at $352,000 after buying an additional 487 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Varian Medical Systems by 1.2% in the first quarter. ProShare Advisors LLC now owns 9,396 shares of the medical equipment provider’s stock valued at $856,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 99.63% of the company’s stock.

Varian Medical Systems, Inc. (NYSE VAR) traded up 0.631% during trading on Thursday, hitting $104.515. The company had a trading volume of 83,041 shares. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.08. The firm’s 50 day moving average is $100.97 and its 200-day moving average is $94.96. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 34.403 and a beta of 0.61.

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

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Several analysts have recently commented on VAR shares. Citigroup Inc. upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 8th. BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Monday, May 8th. Jefferies Group LLC reiterated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Goldman Sachs Group Inc started coverage on Varian Medical Systems in a report on Tuesday, May 16th. They set a “neutral” rating and a $92.00 price objective for the company. Finally, Aegis reiterated a “hold” rating and set a $91.00 price objective on shares of Varian Medical Systems in a report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $96.28.

In other news, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $97.91, for a total value of $106,526.08. Following the transaction, the executive vice president now directly owns 26,600 shares in the company, valued at approximately $2,604,406. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy E. Guertin sold 16,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $103.22, for a total transaction of $1,651,520.00. Following the completion of the transaction, the director now owns 2,161 shares in the company, valued at $223,058.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,980 shares of company stock worth $8,509,576. Insiders own 0.91% of the company’s stock.

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.

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

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