Permanens Capital L.P. grew its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 66.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 500 shares of the medical equipment provider’s stock after buying an additional 200 shares during the period. Permanens Capital L.P.’s holdings in Varian Medical Systems were worth $60,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in VAR. Nuveen Asset Management LLC lifted its holdings in shares of Varian Medical Systems by 14,499.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 378,862 shares of the medical equipment provider’s stock worth $51,574,000 after purchasing an additional 376,267 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Varian Medical Systems by 4.0% in the 2nd quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock worth $1,132,117,000 after purchasing an additional 319,325 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Varian Medical Systems by 19.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock worth $257,171,000 after purchasing an additional 311,004 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Varian Medical Systems by 113.5% in the 3rd quarter. Boston Trust Walden Corp now owns 455,342 shares of the medical equipment provider’s stock worth $54,226,000 after purchasing an additional 242,080 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Varian Medical Systems by 42.1% in the 2nd quarter. Invesco Ltd. now owns 702,878 shares of the medical equipment provider’s stock worth $95,683,000 after purchasing an additional 208,094 shares during the last quarter. 90.85% of the stock is currently owned by institutional investors.

In other news, SVP John W. Kuo sold 465 shares of Varian Medical Systems stock in a transaction on Monday, August 19th. The stock was sold at an average price of $110.49, for a total transaction of $51,377.85. Following the transaction, the senior vice president now directly owns 35,566 shares in the company, valued at approximately $3,929,687.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,395 shares of company stock worth $158,388 in the last ninety days. 0.74% of the stock is owned by company insiders.

VAR has been the topic of several recent research reports. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Monday, October 14th. Zacks Investment Research downgraded Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a report on Saturday, July 27th. ValuEngine downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Robert W. Baird set a $158.00 target price on Varian Medical Systems and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, TheStreet downgraded Varian Medical Systems from a “b” rating to a “c+” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $145.11.

Varian Medical Systems stock traded down $0.88 during mid-day trading on Tuesday, hitting $124.48. 407,158 shares of the company’s stock traded hands, compared to its average volume of 650,501. The firm has a 50 day moving average price of $117.63 and a 200 day moving average price of $123.12. The company has a market cap of $11.36 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.90 and a beta of 0.87. Varian Medical Systems, Inc. has a one year low of $103.92 and a one year high of $142.50.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $878.90 million for the quarter, compared to the consensus estimate of $858.47 million. Varian Medical Systems had a return on equity of 24.42% and a net margin of 9.65%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. Sell-side analysts forecast that Varian Medical Systems, Inc. will post 5.39 earnings per share for the current year.

Varian Medical Systems Profile

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.

Further Reading: Hold Rating

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

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