Analysts Anticipate Varian Medical Systems, Inc. (VAR) to Announce $0.98 EPS

Equities research analysts forecast that Varian Medical Systems, Inc. (NYSE:VAR) will post $0.98 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Varian Medical Systems’ earnings. The highest EPS estimate is $1.02 and the lowest is $0.92. Varian Medical Systems reported earnings of $0.75 per share in the same quarter last year, which would indicate a positive year over year growth rate of 30.7%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, January 24th.

According to Zacks, analysts expect that Varian Medical Systems will report full-year earnings of $4.22 per share for the current year, with EPS estimates ranging from $4.11 to $4.25. For the next year, analysts expect that the company will post earnings of $4.56 per share, with EPS estimates ranging from $4.48 to $4.65. Zacks’ EPS averages are an average based on a survey of research firms that cover Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $739.00 million during the quarter, compared to analyst estimates of $741.69 million. During the same period last year, the business posted $1.03 EPS. The company’s revenue was down 1.1% on a year-over-year basis.

Several research analysts recently issued reports on the company. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Citigroup lifted their target price 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. 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 target price on the stock. BTIG Research reaffirmed 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 target price on Varian Medical Systems and gave the company a “hold” rating in a research report on Thursday, November 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $100.44.

In other Varian Medical Systems news, SVP John W. Kuo sold 7,991 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $110.65, for a total value of $884,204.15. Following the transaction, the senior vice president now owns 27,363 shares of the company’s stock, valued at $3,027,715.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy E. Guertin sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $111.46, for a total value of $1,114,600.00. Following the completion of the transaction, the director now directly owns 2,161 shares in the company, valued at approximately $240,865.06. The disclosure for this sale can be found here. In the last three months, insiders sold 113,681 shares of company stock worth $12,607,207. Insiders own 0.78% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Varian Medical Systems by 1.7% in the second quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock valued at $944,980,000 after buying an additional 150,482 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Varian Medical Systems by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock valued at $478,161,000 after buying an additional 99,270 shares during the period. Janus Henderson Group PLC raised its stake in shares of Varian Medical Systems by 1,545.7% in the second quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock valued at $387,450,000 after buying an additional 3,526,571 shares during the period. APG Asset Management N.V. raised its stake in shares of Varian Medical Systems by 106.1% during the 3rd quarter. APG Asset Management N.V. now owns 1,669,419 shares of the medical equipment provider’s stock valued at $167,042,000 after purchasing an additional 859,400 shares during the period. Finally, Koch Industries Inc. raised its stake in shares of Varian Medical Systems by 57,988.4% during the 2nd quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock valued at $1,315,000 after purchasing an additional 1,325,615 shares during the period. Hedge funds and other institutional investors own 99.14% of the company’s stock.

Shares of Varian Medical Systems (NYSE VAR) traded up $0.75 during trading on Friday, reaching $110.32. The company’s stock had a trading volume of 562,400 shares, compared to its average volume of 748,577. Varian Medical Systems has a 12-month low of $76.94 and a 12-month high of $114.09. The firm has a market capitalization of $10,060.00, a PE ratio of 39.97, a PEG ratio of 3.36 and a beta of 0.68.

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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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