Wells Fargo & Company MN cut its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,122,064 shares of the medical equipment provider’s stock after selling 109,508 shares during the quarter. Wells Fargo & Company MN owned about 1.22% of Varian Medical Systems worth $112,273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Manchester Capital Management LLC increased its position in shares of Varian Medical Systems by 16.5% during the second quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 150 shares during the period. Parallel Advisors LLC increased its position in shares of Varian Medical Systems by 10.1% during the second quarter. Parallel Advisors LLC now owns 1,357 shares of the medical equipment provider’s stock worth $132,000 after buying an additional 125 shares during the period. Penserra Capital Management LLC increased its position in shares of Varian Medical Systems by 13.0% during the second quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock worth $187,000 after buying an additional 210 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Varian Medical Systems by 0.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock worth $197,000 after buying an additional 11 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Varian Medical Systems by 8.0% during the second quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock worth $202,000 after buying an additional 145 shares during the period. Institutional investors own 99.15% of the company’s stock.

In other Varian Medical Systems news, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $105.41, for a total value of $1,587,369.19. Following the transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at $8,626,227.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Andrew Eckert sold 5,651 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 41,830 shares of company stock worth $4,350,109 over the last ninety days. Insiders own 0.91% of the company’s stock.

Several research firms have recently weighed in on VAR. BidaskClub upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Royal Bank Of Canada set a $105.00 target price on shares of Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Citigroup increased their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Varian Medical Systems has an average rating of “Hold” and an average price target of $98.39.

Varian Medical Systems, Inc. (NYSE VAR) traded up $0.66 during trading on Monday, hitting $112.41. 757,400 shares of the company’s stock were exchanged, compared to its average volume of 866,727. Varian Medical Systems, Inc. has a 12-month low of $76.94 and a 12-month high of $113.19. The company has a market capitalization of $10,260.00, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 3.30 and a beta of 0.68.

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 analysts’ consensus estimates 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 business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $741.69 million. During the same period last year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. analysts predict that Varian Medical Systems, Inc. will post 4.26 earnings per share for the current year.

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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.

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

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