Renaissance Technologies LLC Has $136.11 Million Position in Varian Medical Systems, Inc. (VAR)

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Renaissance Technologies LLC boosted its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 147.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,215,993 shares of the medical equipment provider’s stock after buying an additional 725,193 shares during the quarter. Renaissance Technologies LLC’s holdings in Varian Medical Systems were worth $136,106,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VAR. Calamos Advisors LLC increased its stake in 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 worth $5,399,000 after acquiring an additional 3,043 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Varian Medical Systems by 87.9% during the second quarter. OppenheimerFunds Inc. now owns 4,456 shares of the medical equipment provider’s stock worth $507,000 after acquiring an additional 2,085 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Varian Medical Systems during the third quarter worth about $292,000. Motley Fool Wealth Management LLC increased its stake in 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 worth $5,563,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Varian Medical Systems by 66.8% during the second quarter. Sei Investments Co. now owns 35,014 shares of the medical equipment provider’s stock worth $3,982,000 after acquiring an additional 14,024 shares during the last quarter. Hedge funds and other institutional investors own 96.06% of the company’s stock.

In other news, SVP John W. Kuo sold 1,327 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $110.90, for a total value of $147,164.30. Following the completion of the sale, the senior vice president now owns 30,551 shares of the company’s stock, valued at $3,388,105.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP John W. Kuo sold 465 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $111.99, for a total value of $52,075.35. The disclosure for this sale can be found here. Insiders sold 7,623 shares of company stock valued at $857,164 in the last ninety days. Company insiders own 0.78% of the company’s stock.

Shares of NYSE VAR opened at $118.81 on Friday. Varian Medical Systems, Inc. has a 1-year low of $101.42 and a 1-year high of $130.29. The stock has a market capitalization of $11.01 billion, a PE ratio of 27.40, a P/E/G ratio of 3.22 and a beta of 0.62.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.04). Varian Medical Systems had a return on equity of 27.54% and a net margin of 5.14%. The company had revenue of $801.60 million during the quarter, compared to analysts’ expectations of $766.26 million. During the same period in the previous year, the company earned $1.04 EPS. Varian Medical Systems’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect that Varian Medical Systems, Inc. will post 4.69 EPS for the current fiscal year.

Several brokerages have commented on VAR. Citigroup upped their price target on Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. UBS Group began coverage on Varian Medical Systems in a research note on Wednesday, November 28th. They set a “buy” rating and a $140.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating for the company in a research note on Wednesday, October 24th. Finally, Royal Bank of Canada set a $115.00 price target on Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, October 4th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $121.56.

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About Varian Medical Systems

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

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