Contravisory Investment Management Inc. lowered its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 6.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,613 shares of the medical equipment provider’s stock after selling 117 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Varian Medical Systems were worth $282,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in shares of Varian Medical Systems in the 3rd quarter valued at about $27,000. Aigen Investment Management LP acquired a new position in Varian Medical Systems during the third quarter worth $27,000. CWM LLC raised its position in Varian Medical Systems by 76.1% during the third quarter. CWM LLC now owns 199 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 86 shares during the period. Holloway Wealth Management LLC acquired a new position in Varian Medical Systems during the third quarter worth $41,000. Finally, Private Advisor Group LLC acquired a new position in Varian Medical Systems during the second quarter worth about $46,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Several research analysts have recently weighed in on VAR shares. UBS Group cut Varian Medical Systems to an “in-line” rating in a report on Thursday, December 31st. Jefferies Financial Group lowered Varian Medical Systems from a “buy” rating to a “hold” rating and set a $178.00 target price on the stock. in a research report on Monday, December 7th. BidaskClub lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Saturday, January 9th. Barrington Research lowered Varian Medical Systems from an “outperform” rating to an “underperform” rating in a research report on Wednesday, October 28th. Finally, Robert W. Baird lowered Varian Medical Systems from an “outperform” rating to a “neutral” rating and set a $178.00 price objective on the stock. in a research report on Wednesday, October 28th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $145.55.

NYSE VAR opened at $175.48 on Thursday. Varian Medical Systems, Inc. has a 1 year low of $89.62 and a 1 year high of $176.19. The company has a market capitalization of $16.03 billion, a PE ratio of 57.16 and a beta of 1.16. The company has a fifty day moving average of $174.78 and a two-hundred day moving average of $164.70.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Tuesday, October 27th. The medical equipment provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.14. Varian Medical Systems had a net margin of 8.82% and a return on equity of 19.68%. The company had revenue of $850.50 million during the quarter, compared to the consensus estimate of $831.63 million. During the same quarter in the prior year, the firm posted $1.21 earnings per share. As a group, sell-side analysts anticipate that Varian Medical Systems, Inc. will post 3.77 earnings per share for the current year.

In other news, CAO Magnus Momsen sold 4,473 shares of the company’s stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $174.95, for a total value of $782,551.35. Following the sale, the chief accounting officer now directly owns 4,549 shares in the company, valued at $795,847.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kolleen T. Kennedy sold 4,288 shares of the company’s stock in a transaction on Tuesday, November 24th. The shares were sold at an average price of $174.15, for a total value of $746,755.20. Following the completion of the sale, the insider now owns 35,631 shares in the company, valued at $6,205,138.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,585 shares of company stock worth $31,837,170. Corporate insiders own 0.78% of the company’s stock.

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 Oncology Systems and Proton Solutions segments. 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, artificial intelligence based adaptive radiotherapy, and brachytherapy, as well as quality assurance equipment.

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

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