Global X Management Co. LLC reduced its position in Varian Medical Systems, Inc. (NYSE:VAR) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,987 shares of the medical equipment provider’s stock after selling 324 shares during the period. Global X Management Co. LLC’s holdings in Varian Medical Systems were worth $824,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of VAR. First Mercantile Trust Co. boosted its position in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the period. Parallel Advisors LLC boosted its position in Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 176 shares during the period. Heritage Trust Co acquired a new position in Varian Medical Systems during the first quarter valued at $118,000. Penserra Capital Management LLC boosted its position in Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 140 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after buying an additional 55 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Varian Medical Systems, Inc. (VAR) opened at 99.22 on Wednesday. Varian Medical Systems, Inc. has a 52 week low of $75.20 and a 52 week high of $107.08. The company has a market cap of $9.11 billion, a PE ratio of 32.66 and a beta of 0.61. The company has a 50 day moving average price of $101.37 and a 200 day moving average price of $93.90.

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

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Several research firms have weighed in on VAR. Off Wall Street began coverage on Varian Medical Systems in a research note on Monday, April 24th. They set a “sell” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. BidaskClub cut Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Varian Medical Systems has a consensus rating of “Hold” and an average target price of $96.28.

In related news, Director Timothy E. Guertin sold 16,000 shares of the 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 directly owns 2,161 shares in the company, valued at $223,058.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John W. Kuo sold 19,819 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $99.67, for a total value of $1,975,359.73. Following the transaction, the senior vice president now owns 47,180 shares of the company’s stock, valued at $4,702,430.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,372 shares of company stock valued at $16,128,658. 0.91% of the stock is owned by corporate insiders.

Varian Medical Systems Company Profile

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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