Varian Medical Systems, Inc. (NYSE:VAR) Expected to Announce Earnings of $1.19 Per Share

Wall Street analysts expect Varian Medical Systems, Inc. (NYSE:VAR) to report earnings of $1.19 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The highest EPS estimate is $1.20 and the lowest is $1.17. Varian Medical Systems posted earnings of $1.38 per share in the same quarter last year, which would suggest a negative year over year growth rate of 13.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 25th.

On average, analysts expect that Varian Medical Systems will report full-year earnings of $3.94 per share for the current year, with EPS estimates ranging from $3.76 to $4.04. For the next fiscal year, analysts forecast that the company will report earnings of $4.38 per share, with EPS estimates ranging from $4.28 to $4.55. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The firm had revenue of $662.40 million during the quarter, compared to analyst estimates of $663.86 million. During the same quarter last year, the business earned $1.00 EPS. The company’s revenue was up 3.0% compared to the same quarter last year.

VAR has been the subject of several recent research reports. Off Wall Street initiated coverage on Varian Medical Systems in a research report on Monday, April 24th. They issued a “sell” rating for the company. Royal Bank Of Canada upped their target price on Varian Medical Systems from $82.00 to $90.00 and gave the company a “sector perform” rating in a report on Thursday, April 27th. Barrington Research downgraded Varian Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Zacks Investment Research downgraded Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Finally, TheStreet upgraded Varian Medical Systems from a “c+” rating to a “b+” rating in a report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Hold” and an average price target of $96.28.

In other news, SVP John W. Kuo sold 863 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $104.48, for a total value of $90,166.24. Following the sale, the senior vice president now directly owns 28,224 shares of the company’s stock, valued at $2,948,843.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $104.49, for a total value of $113,685.12. Following the completion of the sale, the executive vice president now directly owns 27,688 shares in the company, valued at $2,893,119.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,087 shares of company stock worth $14,652,328. Insiders own 0.91% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its stake in Varian Medical Systems by 0.4% in the second quarter. Park Avenue Securities LLC now owns 2,276 shares of the medical equipment provider’s stock worth $234,000 after buying an additional 9 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the period. Cleararc Capital Inc. boosted its stake in Varian Medical Systems by 1.1% in the first quarter. Cleararc Capital Inc. now owns 2,298 shares of the medical equipment provider’s stock valued at $209,000 after buying an additional 26 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Varian Medical Systems by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,622 shares of the medical equipment provider’s stock valued at $330,000 after buying an additional 26 shares during the period. Finally, Conning Inc. boosted its stake in Varian Medical Systems by 1.3% in the second quarter. Conning Inc. now owns 2,381 shares of the medical equipment provider’s stock valued at $246,000 after buying an additional 30 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Varian Medical Systems (NYSE:VAR) traded down 0.39% on Tuesday, reaching $96.10. 34,628 shares of the company’s stock traded hands. The firm’s 50-day moving average is $103.21 and its 200 day moving average is $92.66. Varian Medical Systems has a 12 month low of $75.20 and a 12 month high of $107.08. The firm has a market cap of $8.81 billion, a PE ratio of 31.63 and a beta of 0.61.

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Varian Medical Systems Company Profile

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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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Earnings History and Estimates for Varian Medical Systems (NYSE:VAR)

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