Washington Trust Co Lowers stake in Varian Medical Systems (VAR)

Varian Medical Systems (VAR) : Washington Trust Co reduced its stake in Varian Medical Systems by 2.91% during the most recent quarter end. The investment management company now holds a total of 259,944 shares of Varian Medical Systems which is valued at $24,673,884 after selling 7,803 shares in Varian Medical Systems , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Varian Medical Systems makes up approximately 1.59% of Washington Trust Co’s portfolio.

Other Hedge Funds, Including , Bessemer Group Inc sold out all of its stake in VAR during the most recent quarter. The investment firm sold 46 shares of VAR which is valued $4,366.Reynders Mcveigh Capital Management reduced its stake in VAR by selling 210 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 20,230 shares of VAR which is valued at $1,926,908. Varian Medical Systems makes up approx 0.27% of Reynders Mcveigh Capital Management’s portfolio.Evercore Wealth Management reduced its stake in VAR by selling 425 shares or 29.82% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of VAR which is valued at $94,650.Montrusco Bolton Investments boosted its stake in VAR in the latest quarter, The investment management firm added 15,210 additional shares and now holds a total of 149,933 shares of Varian Medical Systems which is valued at $13,050,168. Varian Medical Systems makes up approx 0.80% of Montrusco Bolton Investments’s portfolio.

Varian Medical Systems closed down -0.15 points or -0.16% at $95.07 with 3,64,348 shares getting traded on Tuesday. Post opening the session at $95.55, the shares hit an intraday low of $95.07 and an intraday high of $95.6 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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