Squarepoint Ops LLC Decreases Holdings in Varian Medical Systems, Inc. (VAR)

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Squarepoint Ops LLC lowered its position in Varian Medical Systems, Inc. (NYSE:VAR) by 53.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 67,369 shares of the medical equipment provider’s stock after selling 78,512 shares during the period. Squarepoint Ops LLC owned 0.07% of Varian Medical Systems worth $7,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Suntrust Banks Inc. raised its holdings in shares of Varian Medical Systems by 40.6% during the 4th quarter. Suntrust Banks Inc. now owns 27,009 shares of the medical equipment provider’s stock worth $3,061,000 after acquiring an additional 7,804 shares during the period. Bank of America Corp DE raised its holdings in shares of Varian Medical Systems by 1.6% during the 4th quarter. Bank of America Corp DE now owns 1,649,377 shares of the medical equipment provider’s stock worth $186,891,000 after acquiring an additional 26,529 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Varian Medical Systems by 1.0% during the 4th quarter. Two Sigma Advisers LP now owns 612,359 shares of the medical equipment provider’s stock worth $69,386,000 after acquiring an additional 6,000 shares during the period. Two Sigma Investments LP raised its holdings in shares of Varian Medical Systems by 23.0% during the 4th quarter. Two Sigma Investments LP now owns 247,556 shares of the medical equipment provider’s stock worth $28,051,000 after acquiring an additional 46,334 shares during the period. Finally, Stone Ridge Asset Management LLC raised its holdings in shares of Varian Medical Systems by 17.2% during the 4th quarter. Stone Ridge Asset Management LLC now owns 13,370 shares of the medical equipment provider’s stock worth $1,515,000 after acquiring an additional 1,963 shares during the period. Institutional investors own 91.66% of the company’s stock.

Several research analysts have recently commented on VAR shares. Barrington Research reiterated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. Jefferies Financial Group lifted their price target on Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. Goldman Sachs Group upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $107.00 to $129.00 in a report on Friday, January 4th. Citigroup reduced their price target on Varian Medical Systems from $145.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, January 2nd. Finally, UBS Group started coverage on Varian Medical Systems in a report on Wednesday, November 28th. They set a “buy” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $136.00.

Shares of NYSE:VAR opened at $138.59 on Friday. The stock has a market cap of $12.51 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 3.66 and a beta of 0.85. Varian Medical Systems, Inc. has a 12-month low of $101.42 and a 12-month high of $141.53.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The business had revenue of $741.00 million for the quarter, compared to analyst estimates of $717.83 million. Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. Analysts predict that Varian Medical Systems, Inc. will post 4.7 earnings per share for the current fiscal year.

In related news, CFO Gary E. Bischoping, Jr. sold 300 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $131.69, for a total transaction of $39,507.00. Following the completion of the sale, the chief financial officer now directly owns 1,916 shares of the company’s stock, valued at approximately $252,318.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Andrew Eckert sold 5,651 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $130.15, for a total value of $735,477.65. Following the sale, the director now directly owns 9,806 shares of the company’s stock, valued at $1,276,250.90. The disclosure for this sale can be found here. Insiders have sold a total of 52,087 shares of company stock valued at $6,730,198 over the last three months. Corporate insiders own 0.78% of the company’s stock.

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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 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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