Cornerstone Capital Management Holdings LLC. Has $3.44 Million Holdings in Varian Medical Systems, Inc. (VAR)

Cornerstone Capital Management Holdings LLC. raised its position in shares of Varian Medical Systems, Inc. (NYSE:VAR) by 4.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 30,919 shares of the medical equipment provider’s stock after buying an additional 1,316 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Varian Medical Systems were worth $3,436,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. APG Asset Management N.V. lifted its position in shares of Varian Medical Systems by 6.7% during the fourth quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock valued at $164,846,000 after buying an additional 111,482 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Varian Medical Systems by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,205,836 shares of the medical equipment provider’s stock valued at $134,029,000 after buying an additional 83,772 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Varian Medical Systems by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,186,042 shares of the medical equipment provider’s stock valued at $131,599,000 after buying an additional 47,590 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Varian Medical Systems by 15.1% during the third quarter. Ameriprise Financial Inc. now owns 816,983 shares of the medical equipment provider’s stock valued at $81,748,000 after buying an additional 106,899 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Varian Medical Systems by 438.0% during the fourth quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock valued at $82,940,000 after buying an additional 607,500 shares during the last quarter. 99.20% of the stock is owned by institutional investors and hedge funds.

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In related news, Director Timothy E. Guertin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $111.46, for a total value of $1,114,600.00. Following the transaction, the director now owns 2,161 shares in the company, valued at approximately $240,865.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Magnus Momsen sold 1,556 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $126.47, for a total transaction of $196,787.32. Following the completion of the transaction, the chief accounting officer now owns 6,588 shares in the company, valued at approximately $833,184.36. The disclosure for this sale can be found here. Insiders sold a total of 100,568 shares of company stock valued at $12,019,913 over the last ninety days. 0.78% of the stock is currently owned by insiders.

Varian Medical Systems stock opened at $119.45 on Friday. The company has a market cap of $11,055.55, a P/E ratio of 95.56, a P/E/G ratio of 3.51 and a beta of 0.85. Varian Medical Systems, Inc. has a 1 year low of $87.49 and a 1 year high of $130.29.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.06. The firm had revenue of $678.50 million during the quarter, compared to analyst estimates of $633.96 million. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. Varian Medical Systems’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. analysts predict that Varian Medical Systems, Inc. will post 4.31 EPS for the current year.

Several analysts have commented on VAR shares. Royal Bank of Canada set a $105.00 price target on shares of Varian Medical Systems and gave the company a “hold” rating in a research report on Thursday, November 30th. Evercore ISI started coverage on shares of Varian Medical Systems in a research report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 price target for the company. Goldman Sachs lowered shares of Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 price target for the company. in a research report on Thursday, January 25th. Citigroup increased their price target on shares of Varian Medical Systems from $128.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Barrington Research raised shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $111.80.

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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.

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

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