Renaissance Group LLC Takes $31.82 Million Position in Varian Medical Systems, Inc. (VAR)

Renaissance Group LLC purchased a new stake in Varian Medical Systems, Inc. (NYSE:VAR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 318,033 shares of the medical equipment provider’s stock, valued at approximately $31,822,000. Renaissance Group LLC owned about 0.35% of Varian Medical Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Varian Medical Systems by 1.7% in the second quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock valued at $944,980,000 after purchasing an additional 150,482 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Varian Medical Systems by 6.6% in the second quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock valued at $869,233,000 after purchasing an additional 523,858 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Varian Medical Systems by 2.1% during the third quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock worth $478,161,000 after acquiring an additional 99,270 shares during the last quarter. Janus Henderson Group PLC increased its stake in Varian Medical Systems by 1,545.7% during the second quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock worth $387,450,000 after acquiring an additional 3,526,571 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in Varian Medical Systems by 12.0% during the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after acquiring an additional 269,633 shares during the last quarter. 99.15% of the stock is owned by hedge funds and other institutional investors.

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Varian Medical Systems, Inc. (VAR) traded up $0.21 on Tuesday, hitting $109.24. The stock had a trading volume of 585,800 shares, compared to its average volume of 872,030. Varian Medical Systems, Inc. has a 1-year low of $76.94 and a 1-year high of $110.23. The stock has a market capitalization of $10,030.00, a price-to-earnings ratio of 28.92, a P/E/G ratio of 3.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 1.41.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.00% and a net margin of 11.19%. The firm had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $741.69 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. research analysts expect that Varian Medical Systems, Inc. will post 4.26 earnings per share for the current year.

Several equities research analysts have issued reports on the company. BTIG Research cut 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. Citigroup Inc. raised their target price on Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Royal Bank Of Canada reissued a “hold” rating and set a $100.00 target price on shares of Varian Medical Systems in a research note on Friday, September 1st. BidaskClub cut Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $97.83.

In other news, EVP Kolleen T. Kennedy sold 931 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $105.00, for a total transaction of $97,755.00. Following the completion of the transaction, the executive vice president now directly owns 27,531 shares in the company, valued at $2,890,755. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kolleen T. Kennedy sold 2,021 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $107.36, for a total value of $216,974.56. Following the transaction, the executive vice president now owns 27,595 shares of the company’s stock, valued at $2,962,599.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,761 shares of company stock valued at $4,447,864. 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.

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

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