SG Americas Securities LLC reduced its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 72.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,938 shares of the medical equipment provider’s stock after selling 13,293 shares during the quarter. SG Americas Securities LLC’s holdings in Varian Medical Systems were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VAR. First Mercantile Trust Co. increased its holdings in Varian Medical Systems by 2.3% during the 1st quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 25 shares during the period. Parallel Advisors LLC increased its holdings in shares of Varian Medical Systems by 16.7% in the 1st quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 176 shares during the period. Heritage Trust Co purchased a new position in shares of Varian Medical Systems in the 1st quarter valued at $118,000. Penserra Capital Management LLC increased its holdings in shares of Varian Medical Systems by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after acquiring an additional 140 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Varian Medical Systems by 3.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after acquiring an additional 55 shares during the period. Institutional investors own 99.64% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/09/11/sg-americas-securities-llc-trims-holdings-in-varian-medical-systems-inc-var.html.

Varian Medical Systems, Inc. (NYSE:VAR) opened at 106.42 on Monday. The stock has a market capitalization of $9.77 billion, a P/E ratio of 35.03 and a beta of 0.58. Varian Medical Systems, Inc. has a 52 week low of $75.20 and a 52 week high of $107.19. The company’s 50-day moving average price is $100.95 and its 200 day moving average price is $96.54.

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

In related news, insider Dow R. Wilson sold 15,059 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $105.41, for a total value of $1,587,369.19. Following the transaction, the insider now owns 81,835 shares of the company’s stock, valued at $8,626,227.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the executive vice president now directly owns 26,600 shares in the company, valued at approximately $2,604,406. The disclosure for this sale can be found here. Insiders sold 79,592 shares of company stock worth $8,198,042 in the last three months. 0.91% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on VAR. BTIG Research downgraded Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Thursday. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a report on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and issued a $99.00 price target on shares of Varian Medical Systems in a report on Monday, August 28th. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $97.39.

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.

Want to see what other hedge funds are holding VAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varian Medical Systems, Inc. (NYSE:VAR).

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

Receive News & Stock Ratings for Varian Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems Inc. and related stocks with our FREE daily email newsletter.