Varian Medical Systems (VAR) Position Lifted by Millennium Management LLC

Millennium Management LLC increased its position in Varian Medical Systems (NYSE:VAR) by 52.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,208 shares of the medical equipment provider’s stock after buying an additional 9,409 shares during the period. Millennium Management LLC’s holdings in Varian Medical Systems were worth $3,024,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. APG Asset Management N.V. boosted its holdings in Varian Medical Systems by 6.7% in the 4th quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock worth $164,846,000 after buying an additional 111,482 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Varian Medical Systems by 7.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,205,836 shares of the medical equipment provider’s stock valued at $134,029,000 after purchasing an additional 83,772 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Varian Medical Systems by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,186,042 shares of the medical equipment provider’s stock valued at $131,599,000 after purchasing an additional 47,590 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Varian Medical Systems by 438.0% during the 4th quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock valued at $82,940,000 after purchasing an additional 607,500 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Varian Medical Systems by 313.9% during the 4th quarter. American Century Companies Inc. now owns 568,237 shares of the medical equipment provider’s stock valued at $63,160,000 after purchasing an additional 430,934 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

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Shares of NYSE VAR opened at $127.09 on Tuesday. The stock has a market cap of $11,549.48, a PE ratio of 35.30, a price-to-earnings-growth ratio of 3.67 and a beta of 0.82. Varian Medical Systems has a 12-month low of $87.49 and a 12-month high of $130.29.



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

In other news, Director David J. Illingworth sold 5,651 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $122.56, for a total transaction of $692,586.56. Following the sale, the director now directly owns 12,737 shares in the company, valued at approximately $1,561,046.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark R. Laret sold 2,161 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $126.97, for a total transaction of $274,382.17. The disclosure for this sale can be found here. Insiders have sold a total of 81,719 shares of company stock worth $9,954,709 over the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Several research analysts have commented on VAR shares. Citigroup increased their price objective on shares of Varian Medical Systems from $128.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Zacks Investment Research raised shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Tuesday, March 13th. ValuEngine raised shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. TheStreet downgraded shares of Varian Medical Systems from a “b+” rating to a “c” rating in a report on Monday, February 12th. Finally, Royal Bank of Canada set a $115.00 price objective on shares of Varian Medical Systems and gave the company a “hold” rating in a report on Tuesday, April 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $111.80.

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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 Varian Particle Therapy. The Oncology Systems segment provides 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.

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

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