Suntrust Banks Inc. grew its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,570 shares of the medical equipment provider’s stock after purchasing an additional 2,587 shares during the period. Suntrust Banks Inc.’s holdings in Varian Medical Systems were worth $1,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of VAR. Vanguard Group Inc. grew its stake in Varian Medical Systems by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after buying an additional 150,482 shares during the last quarter. BlackRock Inc. raised its stake in Varian Medical Systems by 6.6% in the second quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock valued at $869,233,000 after buying an additional 523,858 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Varian Medical Systems by 0.8% in the second quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock valued at $482,875,000 after buying an additional 38,005 shares during the last quarter. State Street Corp raised its stake in Varian Medical Systems by 1.3% in the first quarter. State Street Corp now owns 4,324,762 shares of the medical equipment provider’s stock valued at $394,109,000 after buying an additional 57,090 shares during the last quarter. Finally, Janus Capital Management LLC boosted its holdings in Varian Medical Systems by 8.5% in the first quarter. Janus Capital Management LLC now owns 3,932,124 shares of the medical equipment provider’s stock worth $358,332,000 after acquiring an additional 306,975 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 1,088 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $107.33, for a total transaction of $116,775.04. Following the completion of the sale, the executive vice president now directly owns 27,688 shares of the company’s stock, valued at approximately $2,971,753.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John W. Kuo sold 1,597 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $104.43, for a total value of $166,774.71. Following the sale, the senior vice president now directly owns 28,224 shares of the company’s stock, valued at $2,947,432.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,787 shares of company stock worth $5,600,457. 0.91% of the stock is currently owned by company insiders.

Shares of Varian Medical Systems, Inc. (NYSE VAR) opened at 100.13 on Wednesday. The company’s 50-day moving average price is $103.66 and its 200 day moving average price is $98.89. Varian Medical Systems, Inc. has a 12-month low of $75.20 and a 12-month high of $107.87. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 32.96 and a beta of 0.56.

Varian Medical Systems (NYSE:VAR) last released its quarterly 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, equities research analysts forecast that Varian Medical Systems, Inc. will post $3.93 EPS for the current fiscal year.

VAR has been the topic of a number of research analyst reports. BTIG Research lowered Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, September 7th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Varian Medical Systems in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Robert W. Baird reiterated a “neutral” rating and issued a $99.00 target price (up from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. Finally, BidaskClub upgraded shares of Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $97.39.

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Varian Medical Systems 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 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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