Varian Medical Systems, Inc. (VAR) Shares Sold by Commerce Bank

Commerce Bank reduced its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,355 shares of the medical equipment provider’s stock after selling 125 shares during the period. Commerce Bank’s holdings in Varian Medical Systems were worth $552,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. boosted its holdings in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 25 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock worth $113,000 after purchasing an additional 176 shares in the last quarter. Heritage Trust Co acquired a new position in Varian Medical Systems during the 1st quarter worth $118,000. Penserra Capital Management LLC lifted its position in Varian Medical Systems by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock worth $146,000 after acquiring an additional 140 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Varian Medical Systems by 3.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock worth $165,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 99.28% of the company’s stock.

Varian Medical Systems, Inc. (NYSE VAR) opened at 105.19 on Friday. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.87. The company has a 50-day moving average of $102.10 and a 200 day moving average of $97.84. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 34.62 and a beta of 0.58.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.09. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The business had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. During the same quarter in the previous year, the company earned $1.00 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Varian Medical Systems, Inc. will post $3.93 EPS for the current year.

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In other news, EVP Kolleen T. Kennedy sold 2,021 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $104.73, for a total value of $211,659.33. Following the completion of the transaction, the executive vice president now directly owns 27,688 shares in the company, valued at approximately $2,899,764.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John W. Kuo sold 863 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $104.48, for a total transaction of $90,166.24. Following the completion of the transaction, the senior vice president now owns 28,224 shares of the company’s stock, valued at $2,948,843.52. The disclosure for this sale can be found here. Insiders sold a total of 54,787 shares of company stock valued at $5,600,457 in the last quarter. Corporate insiders own 0.91% of the company’s stock.

A number of research analysts have weighed in on the stock. Robert W. Baird reissued a “neutral” rating and set a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a research report on Friday, July 14th. BidaskClub lowered shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BTIG Research lowered shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $100.00 price objective on shares of Varian Medical Systems in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Varian Medical Systems presently has an average rating of “Hold” and an average price target of $97.39.

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.

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

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