Is Varian Medical Systems, Inc. (NYSE:VAR) ready to raly soon? Investors who are in the know are getting less bullish. The number of long hedge fund bets stayed the same which is a slightly negative development in our experience
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Consequently, let’s take a gander at the key action encompassing Varian Medical Systems, Inc. (NYSE:VAR).
Hedge fund activity in Varian Medical Systems, Inc. (NYSE:VAR)
At the end of the fourth quarter, a total of 16 of the hedge funds we track were long in this stock, a change of 0% from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their stakes significantly.
When looking at the hedgies we track, Generation Investment Management, managed by David Blood and Al Gore, holds the largest position in Varian Medical Systems, Inc. (NYSE:VAR). Generation Investment Management has a $258 million position in the stock, comprising 6.1% of its 13F portfolio. On Generation Investment Management’s heels is Sectoral Asset Management, managed by Jérôme Pfund and Michael Sjöström, which held a $79 million position; 0.2% of its 13F portfolio is allocated to the stock. Remaining hedge funds that hold long positions include Jim Simons’s Renaissance Technologies, Israel Englander’s Millennium Management and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.
Because Varian Medical Systems, Inc. (NYSE:VAR) has experienced a declination in interest from the smart money, it’s easy to see that there was a specific group of money managers that elected to cut their positions entirely in Q4. Interestingly, Dmitry Balyasny’s Balyasny Asset Management said goodbye to the largest stake of all the hedgies we track, totaling an estimated $16 million in call options, and John Murphy of Alydar Capital was right behind this move, as the fund said goodbye to about $12 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
How are insiders trading Varian Medical Systems, Inc. (NYSE:VAR)?
Insider purchases made by high-level executives is particularly usable when the company in focus has seen transactions within the past six months. Over the last six-month time period, Varian Medical Systems, Inc. (NYSE:VAR) has seen zero unique insiders purchasing, and 13 insider sales (see the details of insider trades here).
With the results exhibited by Insider Monkey’s studies, retail investors must always pay attention to hedge fund and insider trading sentiment, and Varian Medical Systems, Inc. (NYSE:VAR) applies perfectly to this mantra.
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