Fifth Third Bancorp boosted its position in Varian Medical Systems, Inc. (NYSE:VAR) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,885 shares of the medical equipment provider’s stock after acquiring an additional 103 shares during the period. Fifth Third Bancorp’s holdings in Varian Medical Systems were worth $231,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Swiss National Bank raised its holdings in Varian Medical Systems by 1.7% during the 2nd quarter. Swiss National Bank now owns 358,864 shares of the medical equipment provider’s stock worth $43,968,000 after purchasing an additional 6,100 shares during the last quarter. SFE Investment Counsel grew its position in shares of Varian Medical Systems by 2.5% during the 2nd quarter. SFE Investment Counsel now owns 24,386 shares of the medical equipment provider’s stock worth $2,988,000 after buying an additional 595 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Varian Medical Systems during the 2nd quarter worth approximately $1,494,000. Mutual Advisors LLC bought a new stake in shares of Varian Medical Systems during the second quarter worth approximately $520,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Varian Medical Systems in the second quarter valued at approximately $823,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Several analysts have commented on VAR shares. TheStreet upgraded shares of Varian Medical Systems from a “c+” rating to a “b-” rating in a research report on Thursday, July 23rd. Barrington Research reiterated a “buy” rating and issued a $137.00 price objective (down previously from $147.00) on shares of Varian Medical Systems in a report on Tuesday, May 5th. BTIG Research lowered Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Monday, August 10th. UBS Group lowered Varian Medical Systems from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $150.00 to $177.50 in a report on Thursday, August 6th. Finally, Jefferies Financial Group upped their price target on shares of Varian Medical Systems from $130.00 to $178.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Varian Medical Systems currently has a consensus rating of “Hold” and a consensus target price of $142.05.
NYSE:VAR opened at $173.08 on Wednesday. Varian Medical Systems, Inc. has a one year low of $89.62 and a one year high of $176.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.32 and a quick ratio of 1.02. The company has a market cap of $15.75 billion, a PE ratio of 56.38, a P/E/G ratio of 5.72 and a beta of 1.12. The firm’s 50 day simple moving average is $140.73 and its 200 day simple moving average is $125.25.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Sunday, August 2nd. The medical equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.23. The firm had revenue of $694.30 million during the quarter, compared to analysts’ expectations of $677.13 million. Varian Medical Systems had a net margin of 8.82% and a return on equity of 19.68%. Equities research analysts expect that Varian Medical Systems, Inc. will post 3.78 EPS for the current year.
In other Varian Medical Systems news, insider Kolleen T. Kennedy sold 7,344 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $173.31, for a total transaction of $1,272,788.64. Following the completion of the sale, the insider now owns 33,919 shares of the company’s stock, valued at approximately $5,878,501.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kolleen T. Kennedy sold 2,716 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $135.00, for a total transaction of $366,660.00. Following the transaction, the insider now owns 29,834 shares of the company’s stock, valued at approximately $4,027,590. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.
Varian Medical Systems Company 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.
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