Pensionfund Sabic Lowers stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Pensionfund Sabic reduced its stake in Varian Medical Systems by 11.58% during the most recent quarter end. The investment management company now holds a total of 16,800 shares of Varian Medical Systems which is valued at $1.3 Million after selling 2,200 shares in Varian Medical Systems according to a report filed by the company on Apr 4, 2016 with the SEC.Varian Medical Systems makes up approximately 0.41% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including ,

On the company’s financial health, Varian Medical Systems reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $0.92. The company had revenue of $757.10 million for the quarter, compared to analysts expectations of $746.56 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Many Wall Street Analysts have commented on Varian Medical Systems. Shares were Reiterated by RBC Capital Mkts on Feb 17, 2016 to “Sector Perform” and Lowered the Price Target to $ 84 from a previous price target of $86 .Barrington Research Resumed Varian Medical Systems on Jan 12, 2016 to “Outperform”, Price Target of the shares are set at $91.

Varian Medical Systems opened for trading at $80.38 and hit $80.81 on the upside on Monday, eventually ending the session at $80.24, with a gain of 0.15% or 0.12 points. The heightened volatility saw the trading volume jump to 3,87,523 shares. Company has a market cap of $7,663 M.

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. The Company offers tools for fighting cancer taking X-ray images and protecting ports and borders. The Company’s products include linear accelerators brachytherapy afterloaders treatment simulation and verification equipment accessories information management treatment planning and image processing software. The Company’s customers include university research and community hospitals private and governmental institutions healthcare agencies doctors’ offices and cancer care clinics.

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