Schwab Charles Investment Management Inc. Has $44.65 Million Position in Varian Medical Systems, Inc. (VAR)

Schwab Charles Investment Management Inc. increased its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 432,659 shares of the medical equipment provider’s stock after acquiring an additional 9,702 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.47% of Varian Medical Systems worth $44,647,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VAR. Profund Advisors LLC boosted its stake in Varian Medical Systems by 14.4% during the first quarter. Profund Advisors LLC now owns 3,866 shares of the medical equipment provider’s stock worth $352,000 after buying an additional 487 shares in the last quarter. ProShare Advisors LLC boosted its stake in Varian Medical Systems by 1.2% during the first quarter. ProShare Advisors LLC now owns 9,396 shares of the medical equipment provider’s stock worth $856,000 after buying an additional 115 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Varian Medical Systems by 2.3% during the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 25 shares in the last quarter. Strs Ohio boosted its stake in Varian Medical Systems by 8.1% during the first quarter. Strs Ohio now owns 20,417 shares of the medical equipment provider’s stock worth $1,860,000 after buying an additional 1,526 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Varian Medical Systems by 9.0% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,145 shares of the medical equipment provider’s stock worth $742,000 after buying an additional 674 shares in the last quarter. 99.64% of the stock is currently owned by institutional investors and hedge funds.

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VAR has been the topic of a number of recent research reports. BidaskClub downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $100.00 price target on shares of Varian Medical Systems in a research note on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. Finally, BTIG Research downgraded shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, September 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $97.39.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 933 shares of Varian Medical Systems stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $107.29, for a total value of $100,101.57. Following the completion of the sale, the executive vice president now owns 27,533 shares of the company’s stock, valued at approximately $2,954,015.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $107.33, for a total value of $116,775.04. Following the completion of the sale, the executive vice president now directly owns 27,688 shares of the company’s stock, valued at approximately $2,971,753.04. The disclosure for this sale can be found here. In the last three months, insiders sold 80,879 shares of company stock valued at $8,340,117. Corporate insiders own 0.91% of the company’s stock.

Shares of Varian Medical Systems, Inc. (VAR) traded down 1.43% on Friday, reaching $106.33. 989,902 shares of the company traded hands. Varian Medical Systems, Inc. has a one year low of $75.20 and a one year high of $107.87. The firm’s 50 day moving average is $101.57 and its 200 day moving average is $97.37. The company has a market capitalization of $9.76 billion, a P/E ratio of 35.00 and a beta of 0.58.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. The business had revenue of $662.40 million during the quarter, compared to analyst estimates of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. Analysts expect that Varian Medical Systems, Inc. will post $3.93 earnings per share for the current fiscal year.

About Varian Medical Systems

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)

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