Veritas Investment Management Llp buys $793,334 stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Veritas Investment Management Llp scooped up 1,950 additional shares in Varian Medical Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 8,350 shares of Varian Medical Systems which is valued at $793,334.Varian Medical Systems makes up approximately 0.15% of Veritas Investment Management Llp’s portfolio.

Other Hedge Funds, Including , Acrospire Investment Management reduced its stake in VAR by selling 500 shares or 38.46% in the most recent quarter. The Hedge Fund company now holds 800 shares of VAR which is valued at $76,008. Varian Medical Systems makes up approx 0.05% of Acrospire Investment Management’s portfolio. Meag Munich Ergo Kapitalanlagegesellschaft Mbh sold out all of its stake in VAR during the most recent quarter. The investment firm sold 70,277 shares of VAR which is valued $6,658,043.Jensen Investment Management Inc reduced its stake in VAR by selling 190 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 8,403 shares of VAR which is valued at $743,666. Varian Medical Systems makes up approx 0.01% of Jensen Investment Management Inc’s portfolio.Hartford Investment Management Co reduced its stake in VAR by selling 369 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 22,825 shares of VAR which is valued at $1,986,688. Varian Medical Systems makes up approx 0.04% of Hartford Investment Management Co’s portfolio.Sarasin Partners Llp reduced its stake in VAR by selling 262,501 shares or 21.21% in the most recent quarter. The Hedge Fund company now holds 974,853 shares of VAR which is valued at $84,305,287. Varian Medical Systems makes up approx 1.35% of Sarasin Partners Llp’s portfolio.

Varian Medical Systems opened for trading at $93.75 and hit $94.04 on the upside on Wednesday, eventually ending the session at $93.71, with a gain of 0.07% or 0.07 points. The heightened volatility saw the trading volume jump to 6,62,883 shares. Company has a market cap of $8,751 M.

On the company’s financial health, Varian Medical Systems reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.17. The company had revenue of $789.40 million for the quarter, compared to analysts expectations of $782.00 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on Varian Medical Systems. Company shares were Reiterated by Barrington Research on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 102 from a previous price target of $93 .

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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