Fairpointe Capital LLC lowered its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 29.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,405,104 shares of the medical equipment provider’s stock after selling 589,353 shares during the quarter. Varian Medical Systems makes up 2.9% of Fairpointe Capital LLC’s investment portfolio, making the stock its 13th largest position. Fairpointe Capital LLC owned about 1.53% of Varian Medical Systems worth $144,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of VAR. Manchester Capital Management LLC boosted its stake in Varian Medical Systems by 16.5% in the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 150 shares during the period. Parallel Advisors LLC boosted its stake in 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 worth $113,000 after purchasing an additional 176 shares during the period. Pacer Advisors Inc. boosted its stake in 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 worth $165,000 after purchasing an additional 55 shares during the period. Penserra Capital Management LLC boosted its stake in Varian Medical Systems by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock worth $187,000 after purchasing an additional 210 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Varian Medical Systems by 0.6% in the 2nd 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. Institutional investors and hedge funds own 99.28% of the company’s stock.

Shares of Varian Medical Systems, Inc. (NYSE VAR) traded down 1.60% during mid-day trading on Monday, hitting $100.75. The stock had a trading volume of 148,151 shares. The stock’s 50-day moving average is $103.91 and its 200 day moving average is $99.01. Varian Medical Systems, Inc. has a 12 month low of $75.20 and a 12 month high of $107.87. The company has a market cap of $9.25 billion, a PE ratio of 33.16 and a beta of 0.57.

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

Several research analysts have commented on the company. BTIG Research downgraded 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 restated a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a research note on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” 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 assigned a buy rating to the company. Varian Medical Systems currently has an average rating of “Hold” and a consensus price target of $94.94.

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In related news, insider Dow R. Wilson sold 15,059 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the completion of the transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at $7,895,440.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director R Andrew Eckert sold 5,651 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $102.39, for a total value of $578,605.89. The disclosure for this sale can be found here. Insiders have sold 60,437 shares of company stock valued at $6,164,352 in the last quarter. 0.91% of the stock is currently owned by company insiders.

Varian Medical Systems Company 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.

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

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