Varian Medical Systems (NYSE:VAR) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of ~$4.05-4.17 for the period, compared to the Thomson Reuters consensus estimate of $4.30. The company issued revenue guidance of +3-5% to ~$2.78-2.8 billion, compared to the consensus revenue estimate of $2.76 billion.
Varian Medical Systems (VAR) opened at $108.49 on Friday. The firm has a market capitalization of $9,940.00, a PE ratio of 39.31, a PEG ratio of 3.26 and a beta of 0.68. Varian Medical Systems has a 52 week low of $75.54 and a 52 week high of $114.09.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data 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 analyst estimates of $741.69 million. Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. research analysts predict that Varian Medical Systems will post 4.25 EPS for the current year.
Several equities analysts have recently weighed in on VAR shares. Zacks Investment Research lowered Varian Medical Systems from a hold rating to a sell rating in a research note on Friday, October 27th. Citigroup boosted their price target on Varian Medical Systems from $119.00 to $121.00 and gave the stock a neutral rating in a research report on Monday, October 30th. Evercore ISI assumed coverage on Varian Medical Systems in a research report on Wednesday, January 3rd. They set an underperform rating and a $100.00 price target on the stock. BTIG Research reissued a hold rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Finally, Royal Bank of Canada set a $105.00 price target on Varian Medical Systems and gave the stock a hold rating in a research report on Thursday, November 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $100.44.
In related news, SVP John W. Kuo sold 7,991 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $110.65, for a total transaction of $884,204.15. Following the transaction, the senior vice president now directly owns 27,363 shares of the company’s stock, valued at approximately $3,027,715.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 931 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $105.00, for a total value of $97,755.00. Following the completion of the transaction, the executive vice president now directly owns 27,531 shares in the company, valued at $2,890,755. The disclosure for this sale can be found here. Insiders have sold a total of 111,727 shares of company stock worth $12,392,515 over the last three months. 0.78% of the stock is currently owned by corporate insiders.
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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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