Swiss National Bank cut its position in shares of Varian Medical Systems (NYSE:VAR) by 9.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 360,448 shares of the medical equipment provider’s stock after selling 38,700 shares during the quarter. Swiss National Bank owned 0.39% of Varian Medical Systems worth $44,209,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Varian Medical Systems in the 1st quarter worth $377,000. Bank of Hawaii grew its holdings in shares of Varian Medical Systems by 78.8% in the 1st quarter. Bank of Hawaii now owns 15,513 shares of the medical equipment provider’s stock worth $1,903,000 after acquiring an additional 6,835 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Varian Medical Systems in the 1st quarter worth $1,876,000. Mackay Shields LLC acquired a new position in shares of Varian Medical Systems in the 1st quarter worth $3,545,000. Finally, SG Americas Securities LLC grew its holdings in shares of Varian Medical Systems by 7.5% in the 1st quarter. SG Americas Securities LLC now owns 22,201 shares of the medical equipment provider’s stock worth $2,723,000 after acquiring an additional 1,555 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

VAR has been the topic of a number of recent research reports. Goldman Sachs cut Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 target price on the stock. in a report on Thursday, January 25th. Royal Bank of Canada lifted their target price on Varian Medical Systems to $115.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Citigroup lifted their target price on Varian Medical Systems from $128.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barrington Research upgraded Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Thursday, January 25th. Finally, JPMorgan Chase lifted their target price on Varian Medical Systems from $88.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Varian Medical Systems currently has a consensus rating of “Hold” and a consensus price target of $112.44.

Shares of Varian Medical Systems opened at $117.22 on Wednesday, Marketbeat reports. The firm has a market capitalization of $10.76 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.85. Varian Medical Systems has a 12 month low of $116.78 and a 12 month high of $117.52.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, April 25th. The medical equipment provider reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.11. The business had revenue of $729.90 million during the quarter, compared to analysts’ expectations of $685.86 million. Varian Medical Systems had a return on equity of 27.99% and a net margin of 4.77%. Varian Medical Systems’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. research analysts expect that Varian Medical Systems will post 4.5 EPS for the current year.

In other news, SVP John W. Kuo sold 6,442 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $120.67, for a total value of $777,356.14. Following the completion of the sale, the senior vice president now owns 28,224 shares of the company’s stock, valued at $3,405,790.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kolleen T. Kennedy sold 3,513 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $121.16, for a total value of $425,635.08. Following the completion of the sale, the executive vice president now directly owns 28,899 shares of the company’s stock, valued at approximately $3,501,402.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,867 shares of company stock valued at $5,744,245. 0.78% of the stock is currently owned by insiders.

About Varian Medical Systems

Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, 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 (NYSE:VAR).

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

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