LS Investment Advisors LLC Acquires 60 Shares of Varian Medical Systems, Inc. (VAR)

LS Investment Advisors LLC boosted its position in Varian Medical Systems, Inc. (NYSE:VAR) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,063 shares of the medical equipment provider’s stock after buying an additional 60 shares during the period. LS Investment Advisors LLC’s holdings in Varian Medical Systems were worth $832,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Mercantile Trust Co. increased its stake in shares of Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the period. Parallel Advisors LLC increased its stake in shares of Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 176 shares during the period. Heritage Trust Co bought a new stake in shares of Varian Medical Systems during the first quarter valued at approximately $118,000. Penserra Capital Management LLC increased its stake in shares of Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 140 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after buying an additional 55 shares during the period. 99.64% of the stock is currently owned by institutional investors and hedge funds.

Varian Medical Systems, Inc. (VAR) traded down 0.12% on Wednesday, hitting $97.78. The stock had a trading volume of 434,195 shares. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 32.19 and a beta of 0.61. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.08. The company’s 50 day moving average price is $103.21 and its 200 day moving average price is $92.66.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.09. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The business had revenue of $662.40 million for the quarter, compared to analyst estimates of $663.86 million. During the same quarter last year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts expect that Varian Medical Systems, Inc. will post $3.94 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “[[title]]” was posted by [[site]] and is the sole property of of [[site]]. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at [[permalink]].

VAR has been the subject of several recent analyst reports. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 target price for the company in a report on Monday, May 8th. BidaskClub lowered Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Citigroup Inc. raised Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Aegis reissued a “hold” rating and set a $91.00 price objective on shares of Varian Medical Systems in a report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Varian Medical Systems in a report on Tuesday, May 16th. They set a “neutral” rating and a $92.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus price target of $96.28.

In related news, SVP John W. Kuo sold 19,819 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $99.67, for a total transaction of $1,975,359.73. Following the transaction, the senior vice president now directly owns 47,180 shares in the company, valued at $4,702,430.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 1,597 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $104.43, for a total transaction of $166,774.71. Following the completion of the transaction, the senior vice president now owns 28,224 shares in the company, valued at $2,947,432.32. The disclosure for this sale can be found here. Insiders have sold 144,087 shares of company stock worth $14,652,328 over the last 90 days. 0.91% of the stock is currently owned by company insiders.

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.