Point72 Asset Management L.P. lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 73.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,100 shares of the medical equipment provider’s stock after selling 394,716 shares during the period. Point72 Asset Management L.P. owned 0.16% of Varian Medical Systems worth $14,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. increased its stake in Varian Medical Systems by 2.3% during the 2nd quarter. Sei Investments Co. now owns 11,593 shares of the medical equipment provider’s stock worth $1,196,000 after acquiring an additional 257 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Varian Medical Systems by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 432,659 shares of the medical equipment provider’s stock worth $44,647,000 after acquiring an additional 9,702 shares during the period. Conning Inc. increased its stake in Varian Medical Systems by 1.3% during the 2nd quarter. Conning Inc. now owns 2,381 shares of the medical equipment provider’s stock worth $246,000 after acquiring an additional 30 shares during the period. Dupont Capital Management Corp increased its stake in Varian Medical Systems by 19.6% during the 2nd quarter. Dupont Capital Management Corp now owns 6,465 shares of the medical equipment provider’s stock worth $667,000 after acquiring an additional 1,061 shares during the period. Finally, LMR Partners LLP bought a new position in Varian Medical Systems during the 2nd quarter worth $1,446,000. Institutional investors own 99.15% of the company’s stock.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) traded down $2.65 during mid-day trading on Friday, hitting $109.77. The company’s stock had a trading volume of 739,600 shares, compared to its average volume of 859,120. The firm has a market cap of $10,299.58, a P/E ratio of 29.82, a PEG ratio of 3.30 and a beta of 0.67. Varian Medical Systems, Inc. has a 52-week low of $76.94 and a 52-week high of $114.09.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. During the same period last year, the business earned $1.03 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. equities analysts expect that Varian Medical Systems, Inc. will post 4.25 earnings per share for the current fiscal year.

In related news, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $102.40, for a total transaction of $1,542,041.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kolleen T. Kennedy sold 931 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $105.00, for a total value of $97,755.00. Following the sale, the executive vice president now directly owns 27,531 shares in the company, valued at approximately $2,890,755. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,768 shares of company stock worth $2,771,819. 0.91% of the stock is currently owned by company insiders.

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

COPYRIGHT VIOLATION NOTICE: “Point72 Asset Management L.P. Sells 394,716 Shares of Varian Medical Systems, Inc. (VAR)” was first posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/point72-asset-management-l-p-sells-394716-shares-of-varian-medical-systems-inc-var/1766271.html.

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.

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.