Latest Stocks: Varian Medical Systems, Inc. (VAR) Shares Sold by Bank of New York Mellon Corp

Latest Stocks: Varian Medical Systems, Inc. (VAR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 23.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,029,706 shares of the medical equipment provider’s stock after selling 313,865 shares during the period. Bank of New York Mellon Corp owned approximately 1.11% of Varian Medical Systems worth $93,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elkfork Partners LLC boosted its stake in Varian Medical Systems by 6.8% in the first quarter. Elkfork Partners LLC now owns 19,460 shares of the medical equipment provider’s stock worth $1,773,000 after buying an additional 1,232 shares during the last quarter. US Bancorp DE boosted its stake in shares of Varian Medical Systems by 4.4% in the first quarter. US Bancorp DE now owns 52,318 shares of the medical equipment provider’s stock valued at $4,768,000 after buying an additional 2,211 shares in the last quarter. Nuance Investments LLC boosted its stake in shares of Varian Medical Systems by 14.2% in the first quarter. Nuance Investments LLC now owns 63,703 shares of the medical equipment provider’s stock valued at $5,805,000 after buying an additional 7,922 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Varian Medical Systems by 12.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the medical equipment provider’s stock valued at $255,000 after buying an additional 300 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Varian Medical Systems by 11.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 96,410 shares of the medical equipment provider’s stock valued at $8,821,000 after buying an additional 10,160 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Shares of Varian Medical Systems, Inc. (NYSE:VAR) opened at 101.86 on Tuesday. The stock’s 50 day moving average is $94.08 and its 200-day moving average is $89.66. Varian Medical Systems, Inc. has a 1-year low of $68.08 and a 1-year high of $101.91. The firm has a market cap of $9.36 billion, a PE ratio of 32.87 and a beta of 0.69.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $655 million during the quarter, compared to analyst estimates of $639.26 million. Varian Medical Systems had a net margin of 10.35% and a return on equity of 24.63%. Varian Medical Systems’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. Analysts expect that Varian Medical Systems, Inc. will post $3.90 earnings per share for the current year. Several analysts have recently commented on the stock. Off Wall Street assumed coverage on shares of Varian Medical Systems in a research note on Monday, April 24th. They set a “sell” rating on the stock. Zacks Investment Research raised shares of Varian Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 6th. BTIG Research upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Monday, May 8th. TheStreet upgraded shares of Varian Medical Systems from a “c+” rating to a “b+” rating in a report on Wednesday, April 26th. Finally, Citigroup Inc upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 8th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $93.54.

In other Varian Medical Systems news, SVP John W. Kuo sold 3,876 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $91.75, for a total transaction of $355,623.00. Following the completion of the transaction, the senior vice president now owns 30,926 shares of the company’s stock, valued at approximately $2,837,460.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kolleen T. Kennedy sold 56,573 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $99.76, for a total transaction of $5,643,722.48. Following the transaction, the executive vice president now directly owns 32,737 shares of the company’s stock, valued at approximately $3,265,843.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,445 shares of company stock valued at $8,537,976. Company insiders own 0.91% of the company’s stock. Varian Medical Systems Company Profile

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