Alliancebernstein L.P. Has $15.76 Million Position in Varian Medical Systems, Inc. (VAR)

Alliancebernstein L.P. decreased its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 172,937 shares of the medical equipment provider’s stock after selling 2,264 shares during the period. Alliancebernstein L.P. owned about 0.19% of Varian Medical Systems worth $15,760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Varian Medical Systems by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,355 shares of the medical equipment provider’s stock worth $481,000 after buying an additional 22 shares during the last quarter. First Mercantile Trust Co. boosted its position in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Creative Planning boosted its position in Varian Medical Systems by 0.5% in the first quarter. Creative Planning now owns 8,796 shares of the medical equipment provider’s stock worth $802,000 after buying an additional 43 shares during the last quarter. Pacer Advisors Inc. boosted its position in Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 55 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Varian Medical Systems by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,918 shares of the medical equipment provider’s stock worth $448,000 after buying an additional 56 shares during the last quarter. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Varian Medical Systems, Inc. (VAR) traded up 0.28% during mid-day trading on Friday, hitting $102.96. The stock had a trading volume of 1,178,735 shares. The firm has a 50 day moving average of $97.57 and a 200-day moving average of $87.16. Varian Medical Systems, Inc. has a one year low of $68.08 and a one year high of $103.79. The stock has a market cap of $9.46 billion, a P/E ratio of 33.22 and a beta of 0.63.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $655 million for the quarter, compared to the consensus estimate of $639.26 million. Varian Medical Systems had a return on equity of 24.82% and a net margin of 9.39%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts expect that Varian Medical Systems, Inc. will post $3.90 earnings per share for the current fiscal year.

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A number of research analysts recently commented on the company. BidaskClub cut Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Jefferies Group LLC reissued a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Barrington Research cut Varian Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Aegis reissued a “hold” rating and issued a $91.00 price target on shares of Varian Medical Systems in a report on Wednesday, May 17th. Finally, Royal Bank Of Canada boosted their price target on Varian Medical Systems from $82.00 to $90.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $93.54.

In other news, Director Mark R. Laret sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $103.47, for a total value of $147,755.16. Following the transaction, the director now owns 3,289 shares in the company, valued at $340,312.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 734 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $101.91, for a total value of $74,801.94. Following the completion of the transaction, the senior vice president now owns 28,095 shares in the company, valued at approximately $2,863,161.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,819 shares of company stock worth $10,178,052. Company insiders own 0.91% of the company’s stock.

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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