TIAA CREF Investment Management LLC cut its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 266,559 shares of the medical equipment provider’s stock after selling 10,227 shares during the period. TIAA CREF Investment Management LLC owned 0.29% of Varian Medical Systems worth $24,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Varian Medical Systems by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,355 shares of the medical equipment provider’s stock worth $481,000 after buying an additional 22 shares during the period. First Mercantile Trust Co. raised its position in shares of 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 worth $100,000 after buying an additional 25 shares during the period. Creative Planning raised its position in shares of Varian Medical Systems by 0.5% in the first quarter. Creative Planning now owns 8,796 shares of the medical equipment provider’s stock worth $802,000 after buying an additional 43 shares during the period. Pacer Advisors Inc. raised its position in shares of 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 worth $165,000 after buying an additional 55 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its position in shares of Varian Medical Systems by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,918 shares of the medical equipment provider’s stock worth $448,000 after buying an additional 56 shares during the period. Institutional investors own 99.68% of the company’s stock.

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

Varian Medical Systems, Inc. (VAR) traded up 0.28% during mid-day trading on Friday, reaching $102.96. 1,178,735 shares of the company were exchanged. The stock has a market capitalization of $9.46 billion, a P/E ratio of 33.22 and a beta of 0.63. Varian Medical Systems, Inc. has a 12 month low of $68.08 and a 12 month high of $103.79. The company’s 50 day moving average price is $97.57 and its 200-day moving average price is $87.16.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $655 million for the quarter, compared to analysts’ expectations of $639.26 million. Varian Medical Systems had a net margin of 9.39% and a return on equity of 24.82%. Varian Medical Systems’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. On average, equities analysts expect that Varian Medical Systems, Inc. will post $3.90 earnings per share for the current fiscal year.

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VAR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Varian Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 6th. Off Wall Street initiated coverage on shares of Varian Medical Systems in a research note on Monday, April 24th. They set a “sell” rating on the stock. Royal Bank Of Canada boosted their price target on shares of Varian Medical Systems from $82.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 27th. Barrington Research lowered shares of Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Finally, TheStreet upgraded shares of Varian Medical Systems from a “c+” rating to a “b+” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.54.

In other news, SVP John W. Kuo sold 864 shares of the firm’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $89.74, for a total transaction of $77,535.36. Following the completion of the transaction, the senior vice president now owns 27,914 shares in the company, valued at approximately $2,505,002.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark R. Laret sold 1,428 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $103.47, for a total transaction of $147,755.16. Following the transaction, the director now owns 3,289 shares of the company’s stock, valued at approximately $340,312.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,819 shares of company stock worth $10,178,052. 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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