South State Corp maintained its stake in Varian Medical Systems, Inc. (NYSE:VAR) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,365 shares of the medical equipment provider’s stock at the close of the second quarter. South State Corp’s holdings in Varian Medical Systems were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fiera Capital Corp increased its position in shares of Varian Medical Systems by 12.0% in the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after purchasing an additional 269,633 shares during the period. Riverhead Capital Management LLC increased its position in shares of Varian Medical Systems by 4.5% in the second quarter. Riverhead Capital Management LLC now owns 13,028 shares of the medical equipment provider’s stock worth $1,345,000 after purchasing an additional 558 shares during the period. AJO LP increased its position in shares of Varian Medical Systems by 21.2% in the second quarter. AJO LP now owns 331,548 shares of the medical equipment provider’s stock worth $34,212,000 after purchasing an additional 58,021 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Varian Medical Systems by 0.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock worth $197,000 after purchasing an additional 11 shares during the period. Finally, NorthCoast Asset Management LLC bought a new position in shares of Varian Medical Systems in the second quarter worth $757,000. Institutional investors own 99.64% of the company’s stock.

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A number of brokerages recently commented on VAR. BTIG Research cut Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a research report on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $99.00 price target on shares of Varian Medical Systems in a research report on Monday, August 28th. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.39.

Varian Medical Systems, Inc. (NYSE VAR) traded down 0.08% during trading on Tuesday, hitting $107.10. The company had a trading volume of 86,698 shares. Varian Medical Systems, Inc. has a 1-year low of $75.20 and a 1-year high of $107.38. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 35.25 and a beta of 0.58. The company’s 50 day moving average price is $100.86 and its 200-day moving average price is $96.82.

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

In related news, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $105.41, for a total value of $1,587,369.19. Following the transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at approximately $8,626,227.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dow R. Wilson sold 15,060 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $103.37, for a total transaction of $1,556,752.20. Following the completion of the transaction, the insider now directly owns 81,836 shares in the company, valued at $8,459,387.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,858 shares of company stock worth $8,123,240. 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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