Clearbridge Investments LLC Has $46.67 Million Position in Varian Medical Systems, Inc. (VAR)

Clearbridge Investments LLC boosted its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 29.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 419,861 shares of the medical equipment provider’s stock after buying an additional 95,087 shares during the period. Clearbridge Investments LLC’s holdings in Varian Medical Systems were worth $46,668,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. WASHINGTON TRUST Co boosted its stake in Varian Medical Systems by 100.0% in the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after buying an additional 485 shares during the last quarter. Advisory Services Network LLC boosted its stake in Varian Medical Systems by 3,418.8% in the 4th quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after buying an additional 1,641 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in Varian Medical Systems by 45.2% in the 4th quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock worth $190,000 after buying an additional 533 shares during the last quarter. Catawba Capital Management VA acquired a new stake in Varian Medical Systems in the 4th quarter worth about $210,000. Finally, Advisor Partners LLC acquired a new stake in Varian Medical Systems in the 4th quarter worth about $223,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on VAR shares. Royal Bank of Canada set a $105.00 price target on Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, November 30th. Evercore ISI started coverage on Varian Medical Systems in a research note on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 price target on the stock. TheStreet lowered Varian Medical Systems from a “b+” rating to a “c” rating in a research note on Monday, February 12th. Zacks Investment Research raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Finally, ValuEngine raised Varian Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Varian Medical Systems presently has an average rating of “Hold” and a consensus price target of $111.80.

Varian Medical Systems, Inc. (NYSE:VAR) opened at $125.49 on Wednesday. The firm has a market capitalization of $11,554.05, a PE ratio of 31.02, a PEG ratio of 3.67 and a beta of 0.85. Varian Medical Systems, Inc. has a 52 week low of $87.49 and a 52 week high of $130.29.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.06. The business had revenue of $678.50 million for the quarter, compared to analyst estimates of $633.96 million. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. research analysts predict that Varian Medical Systems, Inc. will post 4.31 EPS for the current year.

In related news, SVP John W. Kuo sold 7,991 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $110.65, for a total transaction of $884,204.15. Following the sale, the senior vice president now directly owns 27,363 shares in the company, valued at approximately $3,027,715.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kolleen T. Kennedy sold 699 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $126.47, for a total value of $88,402.53. Following the sale, the executive vice president now owns 27,361 shares in the company, valued at $3,460,345.67. The disclosure for this sale can be found here. Insiders sold a total of 188,006 shares of company stock worth $21,706,262 over the last ninety days. Corporate insiders own 0.78% of the company’s stock.

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

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