Nomura Asset Management Co. Ltd. lessened its position in Varian Medical Systems, Inc. (NYSE:VAR) by 42.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,127 shares of the medical equipment provider’s stock after selling 10,619 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Varian Medical Systems were worth $1,581,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its stake in Varian Medical Systems by 87.9% in the second quarter. OppenheimerFunds Inc. now owns 4,456 shares of the medical equipment provider’s stock valued at $507,000 after acquiring an additional 2,085 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Varian Medical Systems during the third quarter valued at about $292,000. Calamos Advisors LLC grew its stake in shares of Varian Medical Systems by 6.7% during the third quarter. Calamos Advisors LLC now owns 48,236 shares of the medical equipment provider’s stock valued at $5,399,000 after buying an additional 3,043 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of Varian Medical Systems during the second quarter valued at about $205,000. Finally, Motley Fool Wealth Management LLC grew its stake in shares of Varian Medical Systems by 3.3% during the second quarter. Motley Fool Wealth Management LLC now owns 48,918 shares of the medical equipment provider’s stock valued at $5,563,000 after buying an additional 1,548 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:VAR opened at $114.99 on Friday. The stock has a market cap of $10.53 billion, a PE ratio of 26.02, a P/E/G ratio of 3.07 and a beta of 0.64. Varian Medical Systems, Inc. has a 12-month low of $101.42 and a 12-month high of $130.29.
VAR has been the topic of a number of recent research reports. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Citigroup raised their price objective on Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. JPMorgan Chase & Co. reduced their price objective on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 24th. Robert W. Baird initiated coverage on Varian Medical Systems in a research note on Friday, October 19th. They set a “neutral” rating and a $119.00 price objective on the stock. Finally, Royal Bank of Canada set a $115.00 price objective on Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday, October 4th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus target price of $119.25.
In other news, SVP John W. Kuo sold 1,324 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $115.50, for a total transaction of $152,922.00. Following the completion of the sale, the senior vice president now directly owns 30,286 shares in the company, valued at $3,498,033. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy E. Guertin sold 10,000 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $110.84, for a total transaction of $1,108,400.00. Following the sale, the director now owns 4,113 shares of the company’s stock, valued at $455,884.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,423 shares of company stock valued at $2,278,268. 0.78% of the stock is currently owned by company insiders.
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Varian Medical Systems Company Profile
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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