Barrington Research Comments on Varian Medical Systems, Inc.’s Q2 2018 Earnings (VAR)

Varian Medical Systems, Inc. (NYSE:VAR) – Analysts at Barrington Research decreased their Q2 2018 earnings per share estimates for shares of Varian Medical Systems in a report issued on Thursday, Zacks Investment Research reports. Barrington Research analyst M. Petusky now expects that the medical equipment provider will post earnings of $1.02 per share for the quarter, down from their prior forecast of $1.03. Barrington Research also issued estimates for Varian Medical Systems’ Q3 2018 earnings at $1.06 EPS, FY2018 earnings at $4.25 EPS and FY2019 earnings at $4.55 EPS.

Several other research analysts have also recently issued reports on VAR. BidaskClub cut shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Robert W. Baird restated a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a report on Monday, August 28th. Royal Bank of Canada restated a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a report on Friday, September 1st. BTIG Research cut shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Thursday, September 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $97.83.

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Varian Medical Systems (NYSE VAR) opened at $107.55 on Friday. Varian Medical Systems has a 52-week low of $76.94 and a 52-week high of $108.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market cap of $9,886.04, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 3.16 and a beta of 0.65.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business had revenue of $739.00 million for the quarter, compared to the consensus estimate of $741.69 million. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA raised its position in shares of Varian Medical Systems by 32.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock worth $10,577,000 after purchasing an additional 25,152 shares during the last quarter. BB&T Securities LLC raised its position in shares of Varian Medical Systems by 50.7% in the 2nd quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock worth $801,000 after purchasing an additional 2,616 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Varian Medical Systems by 5.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock worth $1,557,000 after purchasing an additional 740 shares during the last quarter. Fiera Capital Corp raised its position in shares of Varian Medical Systems by 12.0% in the 2nd quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after purchasing an additional 269,633 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Varian Medical Systems by 107.9% in the 2nd quarter. Nationwide Fund Advisors now owns 389,616 shares of the medical equipment provider’s stock worth $40,204,000 after purchasing an additional 202,177 shares during the last quarter. 99.81% of the stock is owned by institutional investors and hedge funds.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $107.33, for a total transaction of $116,775.04. Following the completion of the transaction, the executive vice president now owns 27,688 shares of the company’s stock, valued at $2,971,753.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $105.41, for a total value of $1,587,369.19. Following the transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at approximately $8,626,227.35. The disclosure for this sale can be found here. Insiders sold 41,828 shares of company stock valued at $4,337,416 in the last ninety days. 0.91% of the stock is currently owned by insiders.

About Varian Medical Systems

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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