Nordea Investment Management AB Purchases 131,064 Shares of Varian Medical Systems, Inc. (VAR)

Nordea Investment Management AB raised its position in Varian Medical Systems, Inc. (NYSE:VAR) by 37.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 477,672 shares of the medical equipment provider’s stock after purchasing an additional 131,064 shares during the quarter. Nordea Investment Management AB owned 0.52% of Varian Medical Systems worth $49,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its stake in shares of Varian Medical Systems by 16.5% in the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 150 shares during the period. Parallel Advisors LLC raised its stake in shares of Varian Medical Systems by 16.7% in the 1st quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 176 shares during the period. Pacer Advisors Inc. raised its stake in shares of Varian Medical Systems by 3.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after purchasing an additional 55 shares during the period. Penserra Capital Management LLC raised its stake in shares of Varian Medical Systems by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock valued at $187,000 after purchasing an additional 210 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Varian Medical Systems by 0.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after purchasing an additional 11 shares during the period. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

In other Varian Medical Systems news, insider Dow R. Wilson sold 15,060 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $103.37, for a total value of $1,556,752.20. Following the completion of the sale, the insider now owns 81,836 shares in the company, valued at approximately $8,459,387.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dow R. Wilson sold 15,059 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the completion of the sale, the insider now owns 81,835 shares of the company’s stock, valued at approximately $7,895,440.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,787 shares of company stock valued at $5,600,457. Company insiders own 0.91% of the company’s stock.

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Several analysts have issued reports on the company. BidaskClub raised Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. BTIG Research downgraded 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. Robert W. Baird reissued a “neutral” rating and issued a $99.00 price target (up previously from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $97.39.

Varian Medical Systems, Inc. (NYSE VAR) traded up 0.54% during mid-day trading on Friday, hitting $105.19. The company had a trading volume of 543,840 shares. The company’s 50 day moving average price is $102.10 and its 200-day moving average price is $97.84. Varian Medical Systems, Inc. has a 12-month low of $75.20 and a 12-month high of $107.87. The firm has a market capitalization of $9.66 billion, a PE ratio of 34.62 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. The company had revenue of $662.40 million for the quarter, compared to analyst estimates of $663.86 million. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. On average, analysts forecast that Varian Medical Systems, Inc. will post $3.93 EPS 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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