Cibc World Markets Corp boosted its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,996 shares of the medical equipment provider’s stock after purchasing an additional 3,247 shares during the quarter. Cibc World Markets Corp’s holdings in Varian Medical Systems were worth $1,341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its holdings in shares of Varian Medical Systems by 32.5% in the second quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock valued at $10,577,000 after purchasing an additional 25,152 shares during the last quarter. BB&T Securities LLC lifted its stake in shares of Varian Medical Systems by 50.7% during the 2nd quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock worth $801,000 after buying an additional 2,616 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Varian Medical Systems by 3.3% during the 1st quarter. California Public Employees Retirement System now owns 250,600 shares of the medical equipment provider’s stock worth $22,837,000 after buying an additional 8,100 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Varian Medical Systems by 5.2% during the 2nd quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock worth $1,557,000 after buying an additional 740 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Varian Medical Systems by 4.6% during the 1st quarter. Bank of America Corp DE now owns 1,992,821 shares of the medical equipment provider’s stock worth $181,605,000 after buying an additional 87,522 shares during the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.

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In related news, insider Dow R. Wilson sold 15,060 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $103.37, for a total value of $1,556,752.20. Following the sale, the insider now owns 81,836 shares in the company, valued at $8,459,387.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kolleen T. Kennedy sold 933 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $107.29, for a total value of $100,101.57. Following the completion of the sale, the executive vice president now owns 27,533 shares in the company, valued at approximately $2,954,015.57. The disclosure for this sale can be found here. Insiders sold a total of 54,787 shares of company stock worth $5,600,457 over the last quarter. Corporate insiders own 0.91% of the company’s stock.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) opened at 100.06 on Monday. Varian Medical Systems, Inc. has a 12-month low of $75.20 and a 12-month high of $107.87. The firm has a 50-day moving average of $102.10 and a 200-day moving average of $97.84. The company has a market cap of $9.19 billion, a P/E ratio of 32.94 and a beta of 0.57.

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

Several analysts recently commented on the stock. BidaskClub downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Tuesday, June 27th. Robert W. Baird reissued a “neutral” rating and issued a $99.00 price target (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target 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.

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

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