Wealth Architects Lowers stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Wealth Architects reduced its stake in Varian Medical Systems by 0.02% during the most recent quarter end. The investment management company now holds a total of 19,651 shares of Varian Medical Systems which is valued at $1.6 Million after selling 4 shares in Varian Medical Systems , the firm said in a disclosure report filed with the SEC on May 12, 2016.Varian Medical Systems makes up approximately 0.81% of Wealth Architects’s portfolio.

Other Hedge Funds, Including , New Mexico Educational Retirement Board boosted its stake in VAR in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 10,997 shares of Varian Medical Systems which is valued at $902,964. Varian Medical Systems makes up approx 0.04% of New Mexico Educational Retirement Board’s portfolio.Neuberger Berman Group reduced its stake in VAR by selling 6,562 shares or 3.39% in the most recent quarter. The Hedge Fund company now holds 187,112 shares of VAR which is valued at $15.2 Million. Varian Medical Systems makes up approx 0.02% of Neuberger Berman Group’s portfolio.State Treasurer State Of Michigan reduced its stake in VAR by selling 300 shares or 0.9% in the most recent quarter. The Hedge Fund company now holds 32,850 shares of VAR which is valued at $2.7 Million. Varian Medical Systems makes up approx 0.02% of State Treasurer State Of Michigan’s portfolio. Sivik Global Healthcare added VAR to its portfolio by purchasing 30,000 company shares during the most recent quarter which is valued at $2.4 Million. Varian Medical Systems makes up approx 1.07% of Sivik Global Healthcare’s portfolio.Cypress Asset Management Inctx reduced its stake in VAR by selling 50 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 10,138 shares of VAR which is valued at $825,943. Varian Medical Systems makes up approx 0.17% of Cypress Asset Management Inctx’s portfolio.

Varian Medical Systems opened for trading at $83.37 and hit $84.27 on the upside on Friday, eventually ending the session at $83.76, with a gain of 1.03% or 0.85 points. The heightened volatility saw the trading volume jump to 6,58,395 shares. Company has a market cap of $7,975 M.

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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