Sarasin & Partners LLP Sells 111,730 Shares of Varian Medical Systems Inc. (VAR)
Sarasin & Partners LLP lowered its stake in Varian Medical Systems Inc. (NYSE:VAR) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 863,123 shares of the company’s stock after selling 111,730 shares during the period. Sarasin & Partners LLP owned 0.92% of Varian Medical Systems worth $85,907,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Creative Planning boosted its position 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 boosted its position 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 boosted its position 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 boosted its position 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. boosted its position 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. Institutional investors and hedge funds own 99.83% of the company’s stock.
Shares of Varian Medical Systems Inc. (NYSE:VAR) opened at 91.36 on Wednesday. The company has a 50 day moving average price of $92.39 and a 200 day moving average price of $90.54. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 21.80 and a beta of 0.67. Varian Medical Systems Inc. has a one year low of $73.18 and a one year high of $106.70.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. Varian Medical Systems had a return on equity of 26.57% and a net margin of 12.51%. The company had revenue of $912 million for the quarter, compared to analysts’ expectations of $880.29 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Varian Medical Systems’s revenue was up 11.5% compared to the same quarter last year. Equities analysts predict that Varian Medical Systems Inc. will post $4.93 EPS for the current year.
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VAR has been the subject of a number of research analyst reports. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research note on Monday, October 31st. Jefferies Group reiterated a “buy” rating and set a $98.00 price objective on shares of Varian Medical Systems in a research note on Wednesday, September 28th. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Finally, Robert W. Baird lifted their price objective on Varian Medical Systems from $91.00 to $99.00 and gave the company a “neutral” rating in a research note on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Varian Medical Systems has an average rating of “Hold” and an average target price of $93.38.
In related news, insider Dow R. Wilson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $96.08, for a total value of $960,800.00. Following the transaction, the insider now owns 70,598 shares of the company’s stock, valued at $6,783,055.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Elisha W. Finney sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $95.82, for a total value of $191,640.00. Following the completion of the transaction, the chief financial officer now directly owns 7,195 shares in the company, valued at approximately $689,424.90. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate 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.
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