Bbva Compass Bancshares Inc. Has $5.71 Million Position in Varian Medical Systems, Inc. (VAR)

Bbva Compass Bancshares Inc. lowered its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,296 shares of the medical equipment provider’s stock after selling 37 shares during the period. Bbva Compass Bancshares Inc. owned about 0.06% of Varian Medical Systems worth $5,706,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Varian Medical Systems by 3,169.5% in the first quarter. BlackRock Inc. now owns 7,899,768 shares of the medical equipment provider’s stock valued at $719,907,000 after buying an additional 7,658,148 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Varian Medical Systems by 318.2% in the first quarter. Wells Fargo & Company MN now owns 1,302,180 shares of the medical equipment provider’s stock valued at $118,667,000 after buying an additional 990,791 shares in the last quarter. FMR LLC boosted its stake in shares of Varian Medical Systems by 324.5% in the first quarter. FMR LLC now owns 1,006,924 shares of the medical equipment provider’s stock valued at $91,760,000 after buying an additional 769,718 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Varian Medical Systems during the first quarter valued at $32,433,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Varian Medical Systems by 7.5% in the first quarter. First Eagle Investment Management LLC now owns 4,641,466 shares of the medical equipment provider’s stock valued at $422,977,000 after buying an additional 323,406 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Varian Medical Systems, Inc. (VAR) traded up 1.13% during mid-day trading on Friday, hitting $97.74. The stock had a trading volume of 812,205 shares. The firm has a market capitalization of $8.97 billion, a PE ratio of 32.17 and a beta of 0.61. The stock’s 50-day moving average is $101.70 and its 200-day moving average is $93.39. Varian Medical Systems, Inc. has a 1-year low of $75.20 and a 1-year high of $107.08.

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. The company had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. Varian Medical Systems’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Equities analysts expect that Varian Medical Systems, Inc. will post $3.94 earnings per share for the current year.

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VAR has been the subject of several recent research reports. Off Wall Street initiated coverage on Varian Medical Systems in a report on Monday, April 24th. They set a “sell” rating for the company. Goldman Sachs Group, Inc. (The) initiated 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. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, April 28th. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Monday, May 8th. Finally, Citigroup Inc. raised Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $96.28.

In other Varian Medical Systems news, SVP John W. Kuo sold 19,819 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $99.67, for a total value of $1,975,359.73. Following the transaction, the senior vice president now owns 47,180 shares of the company’s stock, valued at $4,702,430.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark R. Laret sold 1,428 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $103.47, for a total value of $147,755.16. Following the completion of the transaction, the director now directly owns 3,289 shares in the company, valued at approximately $340,312.83. The disclosure for this sale can be found here. In the last three months, insiders sold 158,284 shares of company stock worth $16,022,132. Insiders own 0.91% of the company’s stock.

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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