GAM Holding AG decreased its position in Varian Medical Systems, Inc. (NYSE:VAR) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,582 shares of the medical equipment provider’s stock after selling 2,761 shares during the period. GAM Holding AG owned about 0.05% of Varian Medical Systems worth $4,910,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Varian Medical Systems by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 552,438 shares of the medical equipment provider’s stock worth $50,354,000 after buying an additional 69,238 shares in the last quarter. Strs Ohio raised its stake in shares of Varian Medical Systems by 8.1% in the first quarter. Strs Ohio now owns 20,417 shares of the medical equipment provider’s stock worth $1,860,000 after buying an additional 1,526 shares in the last quarter. Shell Asset Management Co. raised its position in Varian Medical Systems by 7.5% in the first quarter. Shell Asset Management Co. now owns 35,282 shares of the medical equipment provider’s stock valued at $3,215,000 after buying an additional 2,467 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Varian Medical Systems by 24.2% in the first quarter. Janney Montgomery Scott LLC now owns 31,048 shares of the medical equipment provider’s stock valued at $2,829,000 after buying an additional 6,056 shares in the last quarter. Finally, First Mercantile Trust Co. raised its position in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Varian Medical Systems, Inc. (NYSE VAR) opened at 101.99 on Friday. The company has a 50-day moving average price of $100.97 and a 200 day moving average price of $94.96. The stock has a market cap of $9.36 billion, a P/E ratio of 33.57 and a beta of 0.61. Varian Medical Systems, Inc. has a 1-year low of $75.20 and a 1-year high of $107.08.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. The business had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. Equities analysts expect that Varian Medical Systems, Inc. will post $3.93 earnings per share for the current fiscal year.

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Several equities analysts have recently issued reports on VAR shares. BidaskClub lowered Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research raised Varian Medical Systems from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Tuesday, June 27th. Citigroup Inc. raised Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Finally, BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 target price for the company in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $96.28.

In other news, EVP Kolleen T. Kennedy sold 1,088 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $97.91, for a total value of $106,526.08. Following the sale, the executive vice president now owns 26,600 shares in the company, valued at $2,604,406. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy E. Guertin sold 16,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $103.22, for a total transaction of $1,651,520.00. Following the completion of the sale, the director now owns 2,161 shares in the company, valued at approximately $223,058.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,372 shares of company stock valued at $16,128,658. Corporate 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.

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

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