Varian Medical Systems, Inc. (VAR) Expected to Announce Quarterly Sales of $639.47 Million

Equities analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will post $639.47 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Varian Medical Systems’ earnings, with the lowest sales estimate coming in at $627.40 million and the highest estimate coming in at $653.00 million. Varian Medical Systems posted sales of $763.30 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that Varian Medical Systems will report full-year sales of $639.47 million for the current year, with estimates ranging from $2.75 billion to $2.78 billion. For the next year, analysts anticipate that the firm will post sales of $2.87 billion per share, with estimates ranging from $2.83 billion to $2.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Varian Medical Systems.

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

VAR has been the topic of several research reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a research report on Friday, September 1st. BTIG Research lowered Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a research report on Monday, August 28th. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Citigroup Inc. raised their price objective on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $97.83.

Varian Medical Systems (NYSE VAR) opened at $107.55 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.13. The firm has a market capitalization of $9,873.20, a price-to-earnings ratio of 28.53, a P/E/G ratio of 3.16 and a beta of 0.65. Varian Medical Systems has a 52-week low of $76.94 and a 52-week high of $108.78.

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In other news, Director R Andrew Eckert sold 5,651 shares of Varian Medical Systems stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $102.39, for a total transaction of $578,605.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $97.91, for a total value of $106,526.08. Following the sale, the executive vice president now directly owns 26,600 shares in the company, valued at $2,604,406. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,828 shares of company stock worth $4,337,416. Corporate insiders own 0.91% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Varian Medical Systems by 1.7% during the second quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after acquiring an additional 150,482 shares during the last quarter. BlackRock Inc. increased its position in shares of Varian Medical Systems by 6.6% during the second quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock worth $869,233,000 after acquiring an additional 523,858 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Varian Medical Systems by 2.1% during the third quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock worth $478,161,000 after acquiring an additional 99,270 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Varian Medical Systems by 1,545.7% during the second quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock worth $387,450,000 after acquiring an additional 3,526,571 shares during the last quarter. Finally, Fiera Capital Corp increased its position in shares of Varian Medical Systems by 12.0% during the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after acquiring an additional 269,633 shares during the last quarter. 99.81% of the stock is currently owned by institutional investors and hedge funds.

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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