Culbertson A N & Co. Inc. Sells 500 Shares of Varian Medical Systems, Inc. (VAR)

Culbertson A N & Co. Inc. reduced its stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,030 shares of the medical equipment provider’s stock after selling 500 shares during the quarter. Varian Medical Systems comprises approximately 2.0% of Culbertson A N & Co. Inc.’s holdings, making the stock its 13th largest position. Culbertson A N & Co. Inc. owned 0.06% of Varian Medical Systems worth $7,090,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc grew its stake in shares of Varian Medical Systems by 1.1% in the third quarter. Vanguard Group Inc now owns 9,848,756 shares of the medical equipment provider’s stock worth $1,102,371,000 after purchasing an additional 106,728 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Varian Medical Systems by 1.6% in the fourth quarter. Bank of America Corp DE now owns 1,649,377 shares of the medical equipment provider’s stock worth $186,891,000 after purchasing an additional 26,529 shares in the last quarter. Northern Trust Corp grew its stake in shares of Varian Medical Systems by 1.3% in the fourth quarter. Northern Trust Corp now owns 1,289,414 shares of the medical equipment provider’s stock worth $146,103,000 after purchasing an additional 16,717 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Varian Medical Systems by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 1,259,504 shares of the medical equipment provider’s stock worth $142,479,000 after purchasing an additional 84,116 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of Varian Medical Systems by 3.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 770,864 shares of the medical equipment provider’s stock worth $86,283,000 after purchasing an additional 24,964 shares in the last quarter. Hedge funds and other institutional investors own 92.48% of the company’s stock.

In other news, Director R Andrew Eckert sold 5,651 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $130.15, for a total transaction of $735,477.65. Following the completion of the sale, the director now directly owns 9,806 shares of the company’s stock, valued at $1,276,250.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 19,580 shares of the company’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $130.48, for a total value of $2,554,798.40. Following the sale, the executive vice president now directly owns 34,798 shares of the company’s stock, valued at $4,540,443.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,128 shares of company stock valued at $12,729,203. 0.74% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on VAR. Barrington Research increased their price target on Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Robert W. Baird raised Varian Medical Systems from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $127.00 to $162.00 in a research note on Friday, March 22nd. Zacks Investment Research raised Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 price target for the company in a research note on Saturday, January 26th. Royal Bank of Canada increased their price target on Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 24th. Finally, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $137.56.

VAR stock traded down $2.41 during trading hours on Wednesday, hitting $134.71. 5,314 shares of the stock traded hands, compared to its average volume of 545,446. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $142.50. The stock has a market capitalization of $12.80 billion, a P/E ratio of 30.50, a P/E/G ratio of 3.73 and a beta of 0.86.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). Varian Medical Systems had a net margin of 12.28% and a return on equity of 26.18%. The firm had revenue of $741.00 million for the quarter, compared to the consensus estimate of $717.83 million. During the same period in the prior year, the business earned $1.06 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Sell-side analysts expect that Varian Medical Systems, Inc. will post 4.73 EPS for the current year.

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Varian Medical Systems 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 two segments, Oncology Systems and Proton Solutions. 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, and brachytherapy, as well as related quality assurance equipment.

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

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