Loomis Sayles Co L P buys $445.8 Million stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Loomis Sayles Co L P scooped up 393,120 additional shares in Varian Medical Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 5,429,072 shares of Varian Medical Systems which is valued at $445.8 Million.Varian Medical Systems makes up approximately 1.27% of Loomis Sayles Co L P’s portfolio.

Other Hedge Funds, Including , Msf Capital sold out all of its stake in VAR during the most recent quarter. The investment firm sold 3,600 shares of VAR which is valued $295,596.Mufg Americas Holdings Corp reduced its stake in VAR by selling 50 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 1,180 shares of VAR which is valued at $96,890.Provident Investment Management reduced its stake in VAR by selling 4,968 shares or 46.87% in the most recent quarter. The Hedge Fund company now holds 5,632 shares of VAR which is valued at $462,444. Varian Medical Systems makes up approx 0.10% of Provident Investment Management’s portfolio.Ngam Advisors boosted its stake in VAR in the latest quarter, The investment management firm added 23,035 additional shares and now holds a total of 297,654 shares of Varian Medical Systems which is valued at $24.2 Million. Varian Medical Systems makes up approx 0.36% of Ngam Advisors’s portfolio.Addenda Capital boosted its stake in VAR in the latest quarter, The investment management firm added 268 additional shares and now holds a total of 12,319 shares of Varian Medical Systems which is valued at $1 Million. Varian Medical Systems makes up approx 0.09% of Addenda Capital’s portfolio.

Varian Medical Systems closed down -0.77 points or -0.92% at $82.6 with 7,40,567 shares getting traded on Wednesday. Post opening the session at $83.48, the shares hit an intraday low of $82.44 and an intraday high of $83.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Varian Medical Systems reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $1.08. The company had revenue of $758.80 million for the quarter, compared to analysts expectations of $770.49 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.05 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 .

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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