2,480 Shares in Varian Medical Systems, Inc. (VAR) Acquired by BBT Capital Management LLC

BBT Capital Management LLC acquired a new stake in shares of Varian Medical Systems, Inc. (NYSE:VAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,480 shares of the medical equipment provider’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors Inc. grew its holdings in Varian Medical Systems by 5.7% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 7,965 shares of the medical equipment provider’s stock valued at $903,000 after buying an additional 428 shares during the last quarter. Whittier Trust Co. grew its holdings in Varian Medical Systems by 8,717.2% during the 4th quarter. Whittier Trust Co. now owns 12,785 shares of the medical equipment provider’s stock valued at $1,449,000 after buying an additional 12,640 shares during the last quarter. Comerica Bank grew its holdings in Varian Medical Systems by 2.1% during the 4th quarter. Comerica Bank now owns 18,552 shares of the medical equipment provider’s stock valued at $2,428,000 after buying an additional 377 shares during the last quarter. Cognios Capital LLC acquired a new stake in Varian Medical Systems during the 4th quarter valued at $2,024,000. Finally, Enlightenment Research LLC acquired a new stake in Varian Medical Systems during the 4th quarter valued at $57,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

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VAR stock opened at $131.71 on Friday. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $133.41. The firm has a market cap of $11.96 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 3.50 and a beta of 0.85.

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

Several research firms have recently issued reports on VAR. Goldman Sachs Group upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $107.00 to $129.00 in a report on Friday, January 4th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. UBS Group began coverage on Varian Medical Systems in a report on Wednesday, November 28th. They set a “buy” rating and a $140.00 price objective on the stock. Royal Bank of Canada raised their price objective on Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Finally, Citigroup decreased their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $130.63.

In related news, CFO Gary E. Bischoping, Jr. sold 300 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $131.69, for a total value of $39,507.00. Following the transaction, 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 is available at this link. Also, EVP Kolleen T. Kennedy sold 19,580 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $130.48, for a total value of $2,554,798.40. Following the completion of the transaction, the executive vice president now directly owns 34,798 shares in the company, valued at $4,540,443.04. The disclosure for this sale can be found here. Insiders have sold 45,680 shares of company stock worth $5,868,800 in the last 90 days. 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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