Varian Medical Systems (VAR) Holdings Boosted by Burney Co.


Burney Co. grew its position in Varian Medical Systems (NYSE:VAR) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,366 shares of the medical equipment provider’s stock after purchasing an additional 5,589 shares during the quarter. Burney Co.’s holdings in Varian Medical Systems were worth $2,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).


Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WASHINGTON TRUST Co boosted its position in shares of Varian Medical Systems by 100.0% during the fourth quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after acquiring an additional 485 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of Varian Medical Systems by 3,418.8% during the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after acquiring an additional 1,641 shares during the last quarter. MUFG Americas Holdings Corp boosted its position in shares of Varian Medical Systems by 45.2% during the fourth quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock worth $190,000 after acquiring an additional 533 shares during the last quarter. Catawba Capital Management VA bought a new position in shares of Varian Medical Systems during the fourth quarter worth $210,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Varian Medical Systems by 27.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock worth $218,000 after acquiring an additional 427 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.


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In related news, Director Susan L. Bostrom sold 1,952 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $120.60, for a total transaction of $235,411.20. Following the sale, the director now owns 3,809 shares of the company’s stock, valued at $459,365.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kolleen T. Kennedy sold 699 shares of the company’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $118.20, for a total transaction of $82,621.80. Following the sale, the executive vice president now directly owns 27,555 shares in the company, valued at approximately $3,257,001. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,867 shares of company stock worth $5,744,245. 0.78% of the stock is owned by insiders.


VAR has been the subject of a number of research reports. Barrington Research upgraded shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research report on Thursday, January 25th. TheStreet lowered shares of Varian Medical Systems from a “b+” rating to a “c” rating in a research report on Monday, February 12th. Goldman Sachs lowered shares of Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 target price for the company. in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada set a $115.00 target price on shares of Varian Medical Systems and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $112.44.


Varian Medical Systems opened at $117.22 on Wednesday, MarketBeat.com reports. The firm has a market cap of $10.84 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 3.29 and a beta of 0.85. Varian Medical Systems has a 52-week low of $116.78 and a 52-week high of $117.52.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.11. The company had revenue of $729.90 million for the quarter, compared to the consensus estimate of $685.86 million. Varian Medical Systems had a net margin of 4.77% and a return on equity of 27.99%. Varian Medical Systems’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. equities analysts forecast that Varian Medical Systems will post 4.5 EPS for the current year.


Varian Medical Systems Profile

Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.

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