Speece Thorson Capital Group Inc Lowers stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Speece Thorson Capital Group Inc reduced its stake in Varian Medical Systems by 5.67% during the most recent quarter end. The investment management company now holds a total of 177,098 shares of Varian Medical Systems which is valued at $14,376,816 after selling 10,653 shares in Varian Medical Systems , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Varian Medical Systems makes up approximately 3.19% of Speece Thorson Capital Group Inc’s portfolio.

Varian Medical Systems opened for trading at $81.39 and hit $82.06 on the upside on Monday, eventually ending the session at $82.06, with a gain of 1.08% or 0.88 points. The heightened volatility saw the trading volume jump to 6,85,342 shares. Company has a market cap of $7,837 M.

Other Hedge Funds, Including , Curian Capital sold out all of its stake in VAR during the most recent quarter. The investment firm sold 47,125 shares of VAR which is valued $3,825,608.Norris Perne French Llpmi reduced its stake in VAR by selling 8,500 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 144,388 shares of VAR which is valued at $12,297,526. Varian Medical Systems makes up approx 2.52% of Norris Perne French Llpmi’s portfolio.Schaper Benz Wise Investment Counsel Incwi boosted its stake in VAR in the latest quarter, The investment management firm added 1,874 additional shares and now holds a total of 125,112 shares of Varian Medical Systems which is valued at $10,655,789. Varian Medical Systems makes up approx 1.97% of Schaper Benz Wise Investment Counsel Incwi’s portfolio.Hexavest reduced its stake in VAR by selling 297,328 shares or 50.22% in the most recent quarter. The Hedge Fund company now holds 294,743 shares of VAR which is valued at $24,737,780. Varian Medical Systems makes up approx 0.38% of Hexavest’s portfolio.

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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