Trade Report: The Kornitzer Capital Management Inc. KS Acquires 35 Shares of Varian Medical Systems Inc. (VAR)

The Kornitzer Capital Management Inc. KS Acquires 35 Shares of Varian Medical Systems Inc. (VAR)

Kornitzer Capital Management Inc. KS raised its position in shares of Varian Medical Systems Inc. (NYSE:VAR) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 84,915 shares of the company’s stock after buying an additional 35 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Varian Medical Systems were worth $6,983,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Invictus RG purchased a new position in Varian Medical Systems during the first quarter valued at $132,000. Citizens Financial Group Inc RI boosted its position in Varian Medical Systems by 67.0% in the first quarter. Citizens Financial Group Inc RI now owns 1,994 shares of the company’s stock valued at $160,000 after buying an additional 800 shares during the last quarter. Huntington National Bank boosted its position in Varian Medical Systems by 218.3% in the second quarter. Huntington National Bank now owns 2,378 shares of the company’s stock valued at $196,000 after buying an additional 1,631 shares during the last quarter. Atria Investments LLC purchased a new position in Varian Medical Systems during the second quarter valued at $256,000. Finally, Raymond James Trust N.A. boosted its position in Varian Medical Systems by 10.0% in the second quarter. Raymond James Trust N.A. now owns 3,348 shares of the company’s stock valued at $275,000 after buying an additional 304 shares during the last quarter. 99.65% of the stock is currently owned by institutional investors and hedge funds.

Varian Medical Systems Inc. (NYSE:VAR) traded up 0.11% during mid-day trading on Monday, hitting $95.87. 513,192 shares of the stock were exchanged. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 24.33 and a beta of 0.71. Varian Medical Systems Inc. has a 52 week low of $73.18 and a 52 week high of $100.42. The company’s 50-day moving average price is $97.12 and its 200 day moving average price is $88.39.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $789.40 million for the quarter, compared to the consensus estimate of $779.90 million. Varian Medical Systems had a net margin of 12.28% and a return on equity of 25.01%. Varian Medical Systems’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. Equities research analysts expect that Varian Medical Systems Inc. will post $4.64 EPS for the current year.

Several brokerages recently issued reports on VAR. Jefferies Group reiterated a “buy” rating and issued a $98.00 target price on shares of Varian Medical Systems in a research report on Wednesday, September 28th. Robert W. Baird upped their target price on shares of Varian Medical Systems from $91.00 to $99.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a research report on Tuesday, September 27th. Barrington Research cut their target price on shares of Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Morgan Stanley upped their target price on shares of Varian Medical Systems from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $91.33.

In other Varian Medical Systems news, SVP Clarence R. Verhoef sold 9,483 shares of Varian Medical Systems stock in a transaction on Monday, August 1st. The shares were sold at an average price of $94.88, for a total value of $899,747.04. Following the sale, the senior vice president now directly owns 8,616 shares in the company, valued at approximately $817,486.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dow R. Wilson sold 10,000 shares of Varian Medical Systems stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $99.44, for a total transaction of $994,400.00. Following the completion of the sale, the insider now owns 70,598 shares in the company, valued at $7,020,265.12. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.

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