Schaper Benz & Wise Investment Counsel Inc. WI lessened its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,124 shares of the medical equipment provider’s stock after selling 8,188 shares during the period. Varian Medical Systems comprises about 1.8% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 22nd largest holding. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Varian Medical Systems were worth $13,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new position in Varian Medical Systems during the 4th quarter valued at about $28,000. First Personal Financial Services grew its holdings in shares of Varian Medical Systems by 58.8% during the 4th quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock worth $40,000 after acquiring an additional 130 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Varian Medical Systems by 121.9% during the 4th quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock worth $40,000 after acquiring an additional 195 shares during the period. Moody National Bank Trust Division purchased a new position in shares of Varian Medical Systems during the 4th quarter worth approximately $49,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Varian Medical Systems during the 4th quarter worth approximately $49,000. 92.48% of the stock is owned by institutional investors.

A number of research analysts have weighed in on the company. Barrington Research upped their target price on Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Robert W. Baird upgraded Varian Medical Systems from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $127.00 to $162.00 in a report on Friday, March 22nd. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 target price on the stock in a report on Saturday, January 26th. Royal Bank of Canada upped their target price on Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Finally, BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $137.56.

In related news, CFO Gary E. Bischoping, Jr. sold 300 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $131.69, for a total value of $39,507.00. Following the sale, the chief financial officer now owns 1,916 shares in the company, valued at approximately $252,318.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Andrew Eckert sold 5,651 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $130.15, for a total value of $735,477.65. Following the completion of the sale, the director now owns 9,806 shares in the company, valued at approximately $1,276,250.90. The disclosure for this sale can be found here. Insiders sold a total of 106,387 shares of company stock worth $14,602,567 in the last 90 days. 0.78% of the stock is currently owned by company insiders.

Shares of Varian Medical Systems stock traded up $3.77 during midday trading on Tuesday, hitting $134.24. The company had a trading volume of 220,255 shares, compared to its average volume of 670,433. The company has a market capitalization of $12.07 billion, a P/E ratio of 30.37, a PEG ratio of 3.46 and a beta of 0.86. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $142.50.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $717.83 million. Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. Research analysts predict that Varian Medical Systems, Inc. will post 4.73 earnings per share for the current fiscal year.

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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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

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

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