First Eagle Investment Management LLC Raises Position in Varian Medical Systems, Inc. (VAR)

First Eagle Investment Management LLC boosted its stake in Varian Medical Systems, Inc. (NYSE:VAR) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,778,741 shares of the medical equipment provider’s stock after buying an additional 99,270 shares during the quarter. First Eagle Investment Management LLC owned approximately 5.21% of Varian Medical Systems worth $478,161,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Retirement Systems of Alabama lifted its stake in Varian Medical Systems by 1.0% in the 3rd quarter. Retirement Systems of Alabama now owns 95,702 shares of the medical equipment provider’s stock valued at $9,576,000 after buying an additional 903 shares in the last quarter. Sei Investments Co. lifted its stake in Varian Medical Systems by 35.6% in the 3rd quarter. Sei Investments Co. now owns 15,722 shares of the medical equipment provider’s stock valued at $1,573,000 after buying an additional 4,129 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its stake in Varian Medical Systems by 7.8% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 8,608 shares of the medical equipment provider’s stock valued at $861,000 after buying an additional 621 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Varian Medical Systems by 3.7% in the 3rd quarter. Hennessy Advisors Inc. now owns 25,500 shares of the medical equipment provider’s stock valued at $2,552,000 after buying an additional 900 shares in the last quarter. Finally, Breton Hill Capital Ltd. purchased a new position in Varian Medical Systems in the 3rd quarter valued at about $488,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Varian Medical Systems, Inc. (NYSE:VAR) traded down $0.14 during midday trading on Monday, hitting $107.55. 682,500 shares of the stock were exchanged, compared to its average volume of 877,203. The firm has a market cap of $9,873.19, a P/E ratio of 28.53, a P/E/G ratio of 3.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.13. Varian Medical Systems, Inc. has a fifty-two week low of $76.94 and a fifty-two week high of $108.78.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The company had revenue of $739.00 million during the quarter, compared to analyst estimates of $741.69 million. During the same quarter last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. equities research analysts forecast that Varian Medical Systems, Inc. will post 4.26 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on VAR shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 price target on shares of Varian Medical Systems in a research note on Friday, September 1st. BTIG Research lowered shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, September 7th. They noted that the move was a valuation call. Robert W. Baird reissued a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Finally, Citigroup Inc. raised their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $97.83.

In other Varian Medical Systems news, Director R Andrew Eckert sold 5,651 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $102.39, for a total value of $578,605.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kolleen T. Kennedy sold 931 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $105.00, for a total transaction of $97,755.00. Following the completion of the transaction, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at approximately $2,890,755. The disclosure for this sale can be found here. Insiders sold a total of 40,740 shares of company stock valued at $4,230,890 in the last quarter. 0.91% of the stock is owned by insiders.

Varian Medical Systems Company Profile

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.

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

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