Varian Medical Systems, Inc. (NYSE:VAR) Position Lowered by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX reduced its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,755 shares of the medical equipment provider’s stock after selling 150 shares during the period. Cypress Asset Management Inc. TX’s holdings in Varian Medical Systems were worth $903,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VAR. First Mercantile Trust Co. increased its stake in shares of Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 176 shares during the last quarter. Heritage Trust Co acquired a new stake in shares of Varian Medical Systems during the first quarter valued at $118,000. Penserra Capital Management LLC increased its stake in shares of Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 140 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after buying an additional 55 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) traded up 1.13% during trading on Friday, hitting $97.74. The company had a trading volume of 812,205 shares. Varian Medical Systems, Inc. has a 12-month low of $75.20 and a 12-month high of $107.08. The stock has a market cap of $8.97 billion, a PE ratio of 32.17 and a beta of 0.61. The firm has a 50 day moving average of $101.70 and a 200 day moving average of $93.39.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $663.86 million. During the same quarter in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts forecast that Varian Medical Systems, Inc. will post $3.94 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Varian Medical Systems, Inc. (NYSE:VAR) Position Lowered by Cypress Asset Management Inc. TX” was originally published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/13/cypress-asset-management-inc-tx-lowers-stake-in-varian-medical-systems-inc-nysevar-updated-updated.html.

Several brokerages have weighed in on VAR. BidaskClub raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Barrington Research downgraded Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, May 11th. Finally, Royal Bank Of Canada lifted their target price on Varian Medical Systems from $82.00 to $90.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $96.28.

In other news, EVP Kolleen T. Kennedy sold 56,573 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $99.76, for a total value of $5,643,722.48. Following the transaction, the executive vice president now owns 32,737 shares of the company’s stock, valued at approximately $3,265,843.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John W. Kuo sold 19,819 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $99.67, for a total value of $1,975,359.73. Following the completion of the transaction, the senior vice president now directly owns 47,180 shares in the company, valued at approximately $4,702,430.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,284 shares of company stock worth $16,022,132. Company insiders own 0.91% of the company’s stock.

Varian Medical Systems Company Profile

Varian Medical Systems, Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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

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

Latest News

Leave a Reply