Voya Investment Management LLC Lowers Position in Varian Medical Systems, Inc. (VAR)

Voya Investment Management LLC reduced its position in Varian Medical Systems, Inc. (NYSE:VAR) by 4.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 59,771 shares of the medical equipment provider’s stock after selling 2,624 shares during the period. Voya Investment Management LLC owned 0.07% of Varian Medical Systems worth $6,167,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in Varian Medical Systems by 32.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock valued at $10,577,000 after acquiring an additional 25,152 shares during the period. BB&T Securities LLC raised its stake in Varian Medical Systems by 50.7% in the 2nd quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock valued at $801,000 after acquiring an additional 2,616 shares during the period. GHP Investment Advisors Inc. raised its stake in Varian Medical Systems by 5.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock valued at $1,557,000 after acquiring an additional 740 shares during the period. Fiera Capital Corp raised its stake in Varian Medical Systems by 12.0% in the 2nd quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock valued at $260,037,000 after acquiring an additional 269,633 shares during the period. Finally, Bank of America Corp DE raised its stake in Varian Medical Systems by 4.6% in the 1st quarter. Bank of America Corp DE now owns 1,992,821 shares of the medical equipment provider’s stock valued at $181,605,000 after acquiring an additional 87,522 shares during the period. Institutional investors and hedge funds own 99.28% of the company’s stock.

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In other news, Director R Andrew Eckert sold 5,651 shares of Varian Medical Systems stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $102.39, for a total value of $578,605.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dow R. Wilson sold 15,059 shares of Varian Medical Systems stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $96.48, for a total value of $1,452,892.32. Following the completion of the transaction, 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 ninety days, insiders sold 58,486 shares of company stock worth $5,960,501. Corporate insiders own 0.91% of the company’s stock.

Shares of Varian Medical Systems, Inc. (VAR) opened at 100.40 on Wednesday. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 33.05 and a beta of 0.56. The firm has a 50-day moving average price of $103.88 and a 200 day moving average price of $99.26. Varian Medical Systems, Inc. has a 52 week low of $75.20 and a 52 week high of $107.87.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The business had revenue of $662.40 million for the quarter, compared to the consensus estimate of $663.86 million. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that Varian Medical Systems, Inc. will post $3.93 EPS for the current fiscal year.

Several brokerages have recently weighed in on VAR. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Robert W. Baird reiterated a “neutral” rating and set a $99.00 price target (up from $89.00) on shares of Varian Medical Systems in a research report on Friday, July 14th. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BTIG Research cut Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $100.00 price target on shares of Varian Medical Systems in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $94.94.

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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