Edgestream Partners L.P. trimmed its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 55.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,231 shares of the medical equipment provider’s stock after selling 4,006 shares during the period. Edgestream Partners L.P.’s holdings in Varian Medical Systems were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. ARP Americas LLC bought a new position in shares of Varian Medical Systems in the 3rd quarter valued at approximately $675,000. Hardman Johnston Global Advisors LLC increased its position in Varian Medical Systems by 0.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 229,872 shares of the medical equipment provider’s stock worth $23,001,000 after buying an additional 1,235 shares during the period. BP PLC bought a new position in Varian Medical Systems in the 3rd quarter worth approximately $1,100,000. Baillie Gifford & Co. increased its position in Varian Medical Systems by 16.6% in the 3rd quarter. Baillie Gifford & Co. now owns 117,375 shares of the medical equipment provider’s stock worth $11,745,000 after buying an additional 16,708 shares during the period. Finally, Parametrica Management Ltd bought a new position in Varian Medical Systems in the 3rd quarter worth approximately $229,000. 99.15% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts have commented on the company. Citigroup Inc. boosted their price objective on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research report on Monday. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Royal Bank Of Canada restated a “hold” rating and set a $100.00 price objective on shares of Varian Medical Systems in a research report on Friday, September 1st. Finally, Robert W. Baird restated a “hold” rating and set a $99.00 price objective on shares of Varian Medical Systems in a research report on Monday, August 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $97.83.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $741.69 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis.

In other Varian Medical Systems news, Director R Andrew Eckert sold 5,651 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $102.39, for a total transaction of $578,605.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dow R. Wilson sold 15,059 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the sale, the insider now directly owns 81,835 shares in the company, valued at approximately $7,895,440.80. The disclosure for this sale can be found here. Insiders sold a total of 56,887 shares of company stock worth $5,790,308 in the last 90 days. Company insiders own 0.91% of the company’s stock.

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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