Veritas Asset Management Llp buys $498,082,185 stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Veritas Asset Management Llp scooped up 45,860 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 1, 2016. The investment management firm now holds a total of 5,262,358 shares of Varian Medical Systems which is valued at $498,082,185.Varian Medical Systems makes up approximately 5.19% of Veritas Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in VAR by selling 295 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 29,470 shares of VAR which is valued at $2,789,336. Varian Medical Systems makes up approx 0.01% of Aberdeen Asset Management Plcuk’s portfolio.Seaward Management Limited Partnership reduced its stake in VAR by selling 1,000 shares or 4.42% in the most recent quarter. The Hedge Fund company now holds 21,630 shares of VAR which is valued at $1,914,255. Varian Medical Systems makes up approx 0.10% of Seaward Management Limited Partnership’s portfolio.British Columbia Investment Management Corp boosted its stake in VAR in the latest quarter, The investment management firm added 22,791 additional shares and now holds a total of 68,828 shares of Varian Medical Systems which is valued at $5,849,692. Varian Medical Systems makes up approx 0.05% of British Columbia Investment Management Corp’s portfolio.

Varian Medical Systems opened for trading at $94.63 and hit $95.21 on the upside on Thursday, eventually ending the session at $94.82, with a gain of 0.18% or 0.17 points. The heightened volatility saw the trading volume jump to 6,48,019 shares. Company has a market cap of $9,028 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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