Oakbrook Investments LLC Reduces Stock Position in Varian Medical Systems, Inc. (NYSE:VAR)

Oakbrook Investments LLC lessened its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 274,416 shares of the medical equipment provider’s stock after selling 9,395 shares during the quarter. Varian Medical Systems accounts for 2.2% of Oakbrook Investments LLC’s portfolio, making the stock its 12th largest position. Oakbrook Investments LLC’s holdings in Varian Medical Systems were worth $37,356,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Varian Medical Systems by 245.7% in the 1st quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock valued at $184,244,000 after buying an additional 923,949 shares during the period. BlackRock Inc. lifted its holdings in shares of Varian Medical Systems by 10.5% in the 1st quarter. BlackRock Inc. now owns 7,997,119 shares of the medical equipment provider’s stock valued at $1,133,353,000 after buying an additional 760,049 shares during the period. Norges Bank acquired a new position in shares of Varian Medical Systems in the 4th quarter valued at about $82,958,000. First Trust Advisors LP lifted its holdings in shares of Varian Medical Systems by 4,724.5% in the 1st quarter. First Trust Advisors LP now owns 316,002 shares of the medical equipment provider’s stock valued at $44,784,000 after buying an additional 309,452 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Varian Medical Systems by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 720,459 shares of the medical equipment provider’s stock valued at $81,635,000 after buying an additional 160,078 shares during the period. Institutional investors and hedge funds own 91.03% of the company’s stock.

In related news, Director Timothy E. Guertin sold 12,651 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $135.21, for a total value of $1,710,541.71. Following the completion of the transaction, the director now owns 13,589 shares of the company’s stock, valued at approximately $1,837,368.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Kuo sold 465 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $130.11, for a total value of $60,501.15. Following the completion of the transaction, the senior vice president now directly owns 35,566 shares of the company’s stock, valued at approximately $4,627,492.26. The disclosure for this sale can be found here. Insiders sold a total of 75,393 shares of company stock valued at $10,032,731 in the last ninety days. 0.78% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on the company. Barrington Research reissued a “buy” rating and issued a $142.00 price objective on shares of Varian Medical Systems in a report on Thursday. UBS Group reissued a “buy” rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Citigroup cut BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Finally, Zacks Investment Research raised Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $142.44.

NYSE VAR traded down $0.32 during trading hours on Friday, reaching $120.77. The company’s stock had a trading volume of 38,371 shares, compared to its average volume of 520,923. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 3.61 and a beta of 0.85. Varian Medical Systems, Inc. has a 1-year low of $101.42 and a 1-year high of $142.50. The firm has a 50-day moving average price of $134.32.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $825.80 million during the quarter, compared to analysts’ expectations of $762.29 million. Varian Medical Systems had a return on equity of 25.24% and a net margin of 10.75%. Varian Medical Systems’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. As a group, analysts anticipate that Varian Medical Systems, Inc. will post 4.64 earnings per share for the current year.

About Varian Medical Systems

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

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