Parametric Portfolio Associates LLC boosted its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 631,098 shares of the medical equipment provider’s stock after purchasing an additional 25,238 shares during the period. Parametric Portfolio Associates LLC owned about 0.69% of Varian Medical Systems worth $63,148,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in Varian Medical Systems by 16.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC increased its holdings in Varian Medical Systems by 10.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,357 shares of the medical equipment provider’s stock worth $132,000 after purchasing an additional 125 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Varian Medical Systems by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock worth $187,000 after purchasing an additional 210 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Varian Medical Systems by 0.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock worth $197,000 after purchasing an additional 11 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Varian Medical Systems by 8.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock worth $202,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

In related news, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $102.40, for a total value of $1,542,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dow R. Wilson sold 88,766 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $111.00, for a total transaction of $9,853,026.00. Following the completion of the sale, the insider now owns 155,542 shares of the company’s stock, valued at $17,265,162. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,534 shares of company stock valued at $12,624,845. Company insiders own 0.91% of the company’s stock.

VAR has been the subject of a number of research reports. Royal Bank of Canada reiterated a “hold” rating and set a $100.00 target price on shares of Varian Medical Systems in a report on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and set a $99.00 target price on shares of Varian Medical Systems in a report on Monday, August 28th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Citigroup increased their price objective on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research downgraded shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $98.39.

Varian Medical Systems, Inc. (NYSE:VAR) opened at $110.78 on Tuesday. Varian Medical Systems, Inc. has a one year low of $76.94 and a one year high of $114.09. The company has a market cap of $10,249.19, a PE ratio of 29.67, a PEG ratio of 3.29 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. During the same quarter in the prior year, the company earned $1.03 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. equities research analysts forecast that Varian Medical Systems, Inc. will post 4.25 EPS for the current year.

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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.

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

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