Amica Mutual Insurance Co. Sells 2,792 Shares of Varian Medical Systems, Inc. (VAR)

Amica Mutual Insurance Co. cut its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 41.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,020 shares of the medical equipment provider’s stock after selling 2,792 shares during the period. Amica Mutual Insurance Co.’s holdings in Varian Medical Systems were worth $447,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Suntrust Banks Inc. boosted its holdings in Varian Medical Systems by 9.5% in the fourth quarter. Suntrust Banks Inc. now owns 12,326 shares of the medical equipment provider’s stock worth $1,369,000 after purchasing an additional 1,069 shares in the last quarter. American International Group Inc. boosted its holdings in Varian Medical Systems by 12.2% during the fourth quarter. American International Group Inc. now owns 34,246 shares of the medical equipment provider’s stock valued at $3,806,000 after acquiring an additional 3,729 shares during the period. Virtu Financial LLC bought a new stake in Varian Medical Systems during the fourth quarter valued at about $299,000. Schroder Investment Management Group boosted its holdings in Varian Medical Systems by 291.2% during the fourth quarter. Schroder Investment Management Group now owns 159,641 shares of the medical equipment provider’s stock valued at $17,744,000 after acquiring an additional 118,833 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Varian Medical Systems by 0.4% during the fourth quarter. Rhumbline Advisers now owns 218,505 shares of the medical equipment provider’s stock valued at $24,287,000 after acquiring an additional 902 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) opened at $121.17 on Friday. Varian Medical Systems, Inc. has a one year low of $83.54 and a one year high of $130.29. The firm has a market cap of $10,941.42, a PE ratio of 29.37, a P/E/G ratio of 3.48 and a beta of 0.81.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.06. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. The business had revenue of $678.50 million during the quarter, compared to analysts’ expectations of $633.96 million. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. equities analysts expect that Varian Medical Systems, Inc. will post 4.31 earnings per share for the current fiscal year.

In related news, Director Susan L. Bostrom sold 1,952 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $120.60, for a total value of $235,411.20. Following the completion of the sale, the director now owns 3,809 shares in the company, valued at $459,365.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John W. Kuo sold 863 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $108.43, for a total transaction of $93,575.09. Following the completion of the sale, the senior vice president now owns 28,224 shares of the company’s stock, valued at approximately $3,060,328.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,118 shares of company stock valued at $18,121,721. 0.78% of the stock is owned by corporate insiders.

VAR has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Citigroup upped their price target on shares of Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Barrington Research upgraded shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Thursday, January 25th. Royal Bank of Canada set a $105.00 price target on shares of Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, November 30th. Finally, Goldman Sachs Group cut shares of Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 price target for the company. in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $108.44.

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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.

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

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