Smithbridge Asset Management Inc. DE continued to hold its stake in shares of Varian Medical Systems Inc. (NYSE:VAR) during the third quarter, according to its most recent disclosure with the SEC. The firm owned 31,800 shares of the company’s stock at the end of the third quarter. Varian Medical Systems makes up about 2.8% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 13th largest position. Smithbridge Asset Management Inc. DE’s holdings in Varian Medical Systems were worth $3,165,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Creative Planning increased its stake in Varian Medical Systems by 0.4% in the third quarter. Creative Planning now owns 8,599 shares of the company’s stock worth $856,000 after buying an additional 31 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Varian Medical Systems by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,604 shares of the company’s stock worth $625,000 after buying an additional 32 shares during the last quarter. Intrust Bank NA increased its stake in Varian Medical Systems by 1.9% in the second quarter. Intrust Bank NA now owns 2,702 shares of the company’s stock worth $222,000 after buying an additional 50 shares during the last quarter. M&T Bank Corp increased its stake in Varian Medical Systems by 0.3% in the second quarter. M&T Bank Corp now owns 27,975 shares of the company’s stock worth $2,301,000 after buying an additional 83 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in Varian Medical Systems by 2.6% in the third quarter. Raymond James Trust N.A. now owns 3,434 shares of the company’s stock worth $341,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

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

Shares of Varian Medical Systems Inc. (NYSE:VAR) traded up 0.31% during midday trading on Tuesday, reaching $91.36. The company had a trading volume of 520,549 shares. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 21.80 and a beta of 0.67. The firm’s 50 day moving average price is $92.39 and its 200-day moving average price is $90.54. Varian Medical Systems Inc. has a 1-year low of $73.18 and a 1-year high of $106.70.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. The business earned $912 million during the quarter, compared to analysts’ expectations of $880.29 million. Varian Medical Systems had a return on equity of 26.57% and a net margin of 12.51%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. Equities research analysts expect that Varian Medical Systems Inc. will post $4.93 EPS for the current fiscal year.

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VAR has been the subject of several recent research reports. Jefferies Group reiterated a “buy” rating and issued a $98.00 price objective on shares of Varian Medical Systems in a research report on Wednesday, September 28th. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Tuesday, September 27th. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research report on Monday, October 31st. Finally, Robert W. Baird boosted their price objective on Varian Medical Systems from $91.00 to $99.00 and gave the company a “neutral” rating in a research report on Wednesday, September 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $93.38.

In other Varian Medical Systems news, insider Dow R. Wilson sold 10,000 shares of Varian Medical Systems stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $96.08, for a total transaction of $960,800.00. Following the completion of the sale, the insider now directly owns 70,598 shares of the company’s stock, valued at approximately $6,783,055.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John W. Kuo sold 21,266 shares of Varian Medical Systems stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $103.70, for a total value of $2,205,284.20. Following the sale, the senior vice president now directly owns 45,293 shares of the company’s stock, valued at $4,696,884.10. The disclosure for this sale can be found here. 0.86% of the stock is owned by 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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.

5 Day Chart for NYSE:VAR

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