Great Lakes Advisors LLC cut its position in Varian Medical Systems, Inc. (NYSE:VAR) by 40.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,541 shares of the medical equipment provider’s stock after selling 6,420 shares during the period. Great Lakes Advisors LLC’s holdings in Varian Medical Systems were worth $985,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Macquarie Group Ltd. boosted 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 worth $368,000 after buying an additional 2,500 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Varian Medical Systems by 52.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,245 shares of the medical equipment provider’s stock worth $934,000 after buying an additional 3,545 shares during the last quarter. First Manhattan Co. boosted its stake in Varian Medical Systems by 1.2% in the first quarter. First Manhattan Co. now owns 8,334 shares of the medical equipment provider’s stock worth $829,000 after buying an additional 100 shares during the last quarter. Profund Advisors LLC boosted its stake in Varian Medical Systems by 14.4% in the first quarter. Profund Advisors LLC now owns 3,866 shares of the medical equipment provider’s stock worth $352,000 after buying an additional 487 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Varian Medical Systems by 1.2% in the first quarter. ProShare Advisors LLC now owns 9,396 shares of the medical equipment provider’s stock worth $856,000 after buying an additional 115 shares during the last quarter. 99.63% of the stock is owned by institutional investors and hedge funds.

Varian Medical Systems, Inc. (NYSE:VAR) opened at 103.86 on Thursday. The firm has a market capitalization of $9.53 billion, a P/E ratio of 34.19 and a beta of 0.61. The stock has a 50 day moving average price of $100.97 and a 200 day moving average price of $94.96. Varian Medical Systems, Inc. has a one year low of $75.20 and a one year high of $107.08.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $663.86 million. During the same period in the prior year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Varian Medical Systems, Inc. will post $3.93 EPS for the current fiscal year.

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A number of analysts have weighed in on the company. BidaskClub raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Robert W. Baird reiterated a “hold” rating and issued a $99.00 price objective on shares of Varian Medical Systems in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, May 11th. Citigroup Inc. upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating in a research note on Monday, May 8th. Finally, Aegis reiterated a “hold” rating and issued a $91.00 price objective on shares of Varian Medical Systems in a research note on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $96.28.

In other news, SVP John W. Kuo sold 863 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $101.25, for a total value of $87,378.75. Following the completion of the sale, the senior vice president now owns 28,224 shares in the company, valued at $2,857,680. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $97.91, for a total value of $106,526.08. Following the completion of the sale, the executive vice president now owns 26,600 shares of the company’s stock, valued at approximately $2,604,406. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,980 shares of company stock worth $8,509,576. 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.

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

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