Comerica Bank Has $2.91 Million Stake in Varian Medical Systems, Inc. (VAR)

Comerica Bank reduced its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,933 shares of the medical equipment provider’s stock after selling 489 shares during the period. Comerica Bank’s holdings in Varian Medical Systems were worth $2,907,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Varian Medical Systems by 27.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock valued at $218,000 after buying an additional 427 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Varian Medical Systems by 12.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 3,994 shares of the medical equipment provider’s stock valued at $444,000 after buying an additional 448 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Varian Medical Systems by 100.0% during the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 485 shares in the last quarter. MUFG Americas Holdings Corp lifted its position in shares of Varian Medical Systems by 45.2% during the 4th quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock valued at $190,000 after buying an additional 533 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Varian Medical Systems by 17.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,613 shares of the medical equipment provider’s stock valued at $402,000 after buying an additional 540 shares in the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of VAR opened at $118.79 on Tuesday. The company has a market cap of $10.83 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 3.29 and a beta of 0.85. Varian Medical Systems, Inc. has a 12-month low of $94.81 and a 12-month high of $130.29.



Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, April 25th. The medical equipment provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.11. The company had revenue of $729.90 million for the quarter, compared to the consensus estimate of $685.86 million. Varian Medical Systems had a return on equity of 27.99% and a net margin of 4.77%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. equities analysts forecast that Varian Medical Systems, Inc. will post 4.5 earnings per share for the current fiscal year.

In other Varian Medical Systems news, insider Dow R. Wilson sold 24,000 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $118.03, for a total value of $2,832,720.00. Following the sale, the insider now owns 99,356 shares of the company’s stock, valued at approximately $11,726,988.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 1,327 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $117.15, for a total value of $155,458.05. Following the completion of the sale, the senior vice president now directly owns 30,551 shares in the company, valued at approximately $3,579,049.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,239 shares of company stock worth $4,696,712. Corporate insiders own 0.78% of the company’s stock.

A number of research analysts have recently weighed in on the company. TheStreet raised Varian Medical Systems from a “c” rating to a “b” rating in a research report on Wednesday, April 25th. Royal Bank of Canada lifted their target price on Varian Medical Systems to $115.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. JPMorgan Chase lifted their target price on Varian Medical Systems from $88.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, January 28th. Finally, ValuEngine raised Varian Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $115.13.

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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