Gavekal Capital adds Varian Medical Systems (VAR) to its portfolio

Varian Medical Systems (VAR) : Gavekal Capital added new position in Varian Medical Systems during the most recent quarter end. The investment management firm now holds 91,093 shares of Varian Medical Systems which is valued at $8,723,066 , the company said in a statement filed on Oct 17, 2016 with the SEC.Varian Medical Systems makes up approximately 2.98% of Gavekal Capital’s portfolio.

Other Hedge Funds, Including , Btim Corp. reduced its stake in VAR by selling 1,217 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 172,384 shares of VAR which is valued at $16,507,492. Varian Medical Systems makes up approx 0.28% of Btim Corp.’s portfolio.Creative Planning boosted its stake in VAR in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 8,599 shares of Varian Medical Systems which is valued at $835,995. Varian Medical Systems makes up approx 0.01% of Creative Planning’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in VAR by selling 51 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 22,104 shares of VAR which is valued at $2,186,307. Varian Medical Systems makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio.Thompson Rubinstein Investment Management Inc Or reduced its stake in VAR by selling 980 shares or 2.49% in the most recent quarter. The Hedge Fund company now holds 38,392 shares of VAR which is valued at $3,797,353. Varian Medical Systems makes up approx 1.45% of Thompson Rubinstein Investment Management Inc Or’s portfolio.

Varian Medical Systems closed down -0.52 points or -0.54% at $95.76 with 6,93,528 shares getting traded on Friday. Post opening the session at $96.71, the shares hit an intraday low of $95.7 and an intraday high of $96.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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