Retirement Systems of Alabama lowered its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 94,799 shares of the medical equipment provider’s stock after selling 6,102 shares during the period. Retirement Systems of Alabama’s holdings in Varian Medical Systems were worth $9,782,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Teachers Advisors LLC increased its stake in Varian Medical Systems by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 107,778 shares of the medical equipment provider’s stock valued at $9,676,000 after buying an additional 4,000 shares during the last quarter. Macquarie Group Ltd. increased its stake in 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 during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Varian Medical Systems by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 80,961 shares of the medical equipment provider’s stock valued at $7,378,000 after buying an additional 2,519 shares during the last quarter. Creative Planning increased its stake in Varian Medical Systems by 0.5% in the first quarter. Creative Planning now owns 8,796 shares of the medical equipment provider’s stock valued at $802,000 after buying an additional 43 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in Varian Medical Systems by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 31,725 shares of the medical equipment provider’s stock valued at $2,891,000 after buying an additional 450 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

Varian Medical Systems, Inc. (VAR) opened at 97.74 on Friday. The stock has a market capitalization of $8.97 billion, a PE ratio of 32.17 and a beta of 0.61. The firm has a 50-day moving average of $101.70 and a 200-day moving average of $93.39. Varian Medical Systems, Inc. has a 1-year low of $75.20 and a 1-year high of $107.08.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $663.86 million. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. Varian Medical Systems’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. Equities analysts expect that Varian Medical Systems, Inc. will post $3.94 EPS for the current fiscal year.

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Several equities research analysts have recently commented on VAR shares. Off Wall Street started coverage on shares of Varian Medical Systems in a research report on Monday, April 24th. They set a “sell” rating for the company. Royal Bank Of Canada upped their price objective on shares of Varian Medical Systems from $82.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 27th. Barrington Research downgraded shares of Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 27th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, TheStreet raised shares of Varian Medical Systems from a “c+” rating to a “b+” rating in a research report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $96.28.

In other news, SVP John W. Kuo sold 19,819 shares of Varian Medical Systems stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $99.67, for a total value of $1,975,359.73. Following the completion of the sale, the senior vice president now directly owns 47,180 shares in the company, valued at $4,702,430.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 56,573 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $99.76, for a total transaction of $5,643,722.48. Following the completion of the sale, the executive vice president now owns 32,737 shares of the company’s stock, valued at $3,265,843.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,284 shares of company stock valued at $16,022,132. 0.91% of the stock is owned by company 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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