Russell Investments Group Ltd. Boosts Stake in Varian Medical Systems, Inc. (NYSE:VAR)


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Russell Investments Group Ltd. boosted its holdings in Varian Medical Systems, Inc. (NYSE:VAR) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 125,656 shares of the medical equipment provider’s stock after buying an additional 1,923 shares during the period. Russell Investments Group Ltd. owned 0.14% of Varian Medical Systems worth $21,980,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VAR. Segantii Capital Management Ltd purchased a new stake in Varian Medical Systems in the 4th quarter worth $172,648,000. Pentwater Capital Management LP purchased a new stake in Varian Medical Systems in the 3rd quarter worth $137,600,000. Carlson Capital L P purchased a new position in shares of Varian Medical Systems during the third quarter valued at about $133,193,000. ARP Americas LP purchased a new position in shares of Varian Medical Systems during the third quarter valued at about $78,971,000. Finally, DLD Asset Management LP purchased a new position in shares of Varian Medical Systems during the third quarter valued at about $77,722,000. Institutional investors and hedge funds own 86.96% of the company’s stock.

Shares of NYSE:VAR opened at $176.03 on Tuesday. Varian Medical Systems, Inc. has a 12 month low of $89.62 and a 12 month high of $176.50. The company has a 50-day moving average price of $175.81 and a 200 day moving average price of $173.93. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 60.08 and a beta of 1.06.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Monday, January 25th. The medical equipment provider reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.04. The firm had revenue of $778.80 million during the quarter, compared to the consensus estimate of $832.97 million. Varian Medical Systems had a net margin of 8.50% and a return on equity of 18.45%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 EPS. As a group, equities research analysts predict that Varian Medical Systems, Inc. will post 5.2 earnings per share for the current fiscal year.

VAR has been the subject of a number of research analyst reports. UBS Group lowered Varian Medical Systems to an “in-line” rating in a research report on Thursday, December 31st. Robert W. Baird lowered Varian Medical Systems from an “outperform” rating to a “neutral” rating and set a $178.00 price objective for the company. in a research report on Wednesday, October 28th. Barrington Research lowered Varian Medical Systems from an “outperform” rating to an “underperform” rating in a research report on Wednesday, October 28th. Finally, Jefferies Financial Group lowered Varian Medical Systems from a “buy” rating to a “hold” rating and set a $178.00 price objective for the company. in a research report on Monday, December 7th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $145.55.

In other Varian Medical Systems news, CAO Magnus Momsen sold 4,473 shares of the firm’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $174.95, for a total value of $782,551.35. Following the completion of the sale, the chief accounting officer now owns 4,549 shares of the company’s stock, valued at $795,847.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dow R. Wilson sold 157,515 shares of the firm’s stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $174.35, for a total transaction of $27,462,740.25. Following the completion of the sale, the chief executive officer now directly owns 203,945 shares of the company’s stock, valued at approximately $35,557,810.75. The disclosure for this sale can be found here. In the last three months, insiders sold 177,897 shares of company stock valued at $31,020,935. 0.78% of the stock is owned by insiders.

Varian Medical Systems Company Profile

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 Oncology Systems and Proton Solutions segments. The Oncology Systems segment offers 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, artificial intelligence based adaptive radiotherapy, and brachytherapy, as well as quality assurance equipment.

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

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