Varian Medical Systems, Inc. (NYSE:VAR) Position Decreased by Oakbrook Investments LLC

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Oakbrook Investments LLC cut its holdings in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 273,131 shares of the medical equipment provider’s stock after selling 1,285 shares during the quarter. Varian Medical Systems accounts for 2.1% of Oakbrook Investments LLC’s investment portfolio, making the stock its 13th largest position. Oakbrook Investments LLC owned approximately 0.30% of Varian Medical Systems worth $32,527,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Arrow Financial Corp acquired a new stake in Varian Medical Systems during the 2nd quarter worth $27,000. Quantamental Technologies LLC purchased a new position in Varian Medical Systems during the 2nd quarter worth $29,000. Financial Gravity Wealth Inc. grew its position in Varian Medical Systems by 1,646.2% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 227 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 214 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in Varian Medical Systems by 651.6% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 233 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Varian Medical Systems during the 2nd quarter worth $32,000. Institutional investors own 91.48% of the company’s stock.

In other news, SVP John W. Kuo sold 465 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.30, for a total value of $54,079.50. Following the completion of the transaction, the senior vice president now owns 35,411 shares of the company’s stock, valued at $4,118,299.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 1,395 shares of company stock valued at $158,388. Company insiders own 0.78% of the company’s stock.

Several research analysts have issued reports on VAR shares. BTIG Research raised shares of Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Monday, October 14th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price objective on the stock. in a research report on Saturday, July 27th. TheStreet downgraded shares of Varian Medical Systems from a “b” rating to a “c+” rating in a report on Monday, August 5th. Robert W. Baird set a $158.00 target price on shares of Varian Medical Systems and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Barrington Research lifted their target price on shares of Varian Medical Systems from $146.00 to $152.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Varian Medical Systems presently has a consensus rating of “Buy” and an average target price of $145.11.

VAR traded up $1.30 during midday trading on Friday, reaching $124.76. 488,581 shares of the company’s stock were exchanged, compared to its average volume of 665,692. The stock has a market capitalization of $11.27 billion, a PE ratio of 26.95, a P/E/G ratio of 2.87 and a beta of 0.87. The business’s 50-day moving average price is $117.33 and its 200 day moving average price is $123.18. Varian Medical Systems, Inc. has a 1-year low of $103.92 and a 1-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 (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $878.90 million during the quarter, compared to analysts’ expectations of $858.47 million. Varian Medical Systems had a net margin of 9.65% and a return on equity of 24.42%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. Equities analysts predict that Varian Medical Systems, Inc. will post 5.39 earnings per share for the current fiscal year.

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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