Pinebridge Investments L.P. acquired a new position in Varian Medical Systems, Inc. (NYSE:VAR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,765 shares of the medical equipment provider’s stock, valued at approximately $277,000.

Several other institutional investors have also recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in shares of Varian Medical Systems by 32.5% during the second quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock worth $10,577,000 after purchasing an additional 25,152 shares in the last quarter. BB&T Securities LLC increased its stake in shares of Varian Medical Systems by 50.7% during the second quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock worth $801,000 after purchasing an additional 2,616 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Varian Medical Systems by 5.2% during the second quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock worth $1,557,000 after purchasing an additional 740 shares in the last quarter. Fiera Capital Corp increased its stake 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 in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Varian Medical Systems by 107.9% during the second quarter. Nationwide Fund Advisors now owns 389,616 shares of the medical equipment provider’s stock worth $40,204,000 after purchasing an additional 202,177 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

In related news, EVP Kolleen T. Kennedy sold 933 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $107.29, for a total transaction of $100,101.57. Following the completion of the sale, the executive vice president now owns 27,533 shares of the company’s stock, valued at approximately $2,954,015.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kolleen T. Kennedy sold 931 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $105.00, for a total transaction of $97,755.00. Following the sale, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at approximately $2,890,755. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,683 shares of company stock valued at $2,645,965. 0.91% of the stock is owned by corporate insiders.

A number of analysts have recently commented on VAR shares. Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Robert W. Baird reissued a “hold” rating and set a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. Royal Bank of Canada reissued a “hold” rating and set a $100.00 target price on shares of Varian Medical Systems in a research note on Friday, September 1st. Citigroup boosted their target price 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, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Varian Medical Systems presently has an average rating of “Hold” and a consensus target price of $98.39.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) traded down $0.80 during midday trading on Tuesday, reaching $111.18. 378,200 shares of the company traded hands, compared to its average volume of 860,503. Varian Medical Systems, Inc. has a one year low of $76.94 and a one year high of $113.58. The stock has a market cap of $10,259.26, a PE ratio of 29.70, a PEG ratio of 3.29 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $741.69 million. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. analysts predict that Varian Medical Systems, Inc. will post 4.26 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.

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

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