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) traded down $2.46 during trading on Friday, reaching $124.86. The company had a trading volume of 691,568 shares, compared to its average volume of 1,005,091. The firm has a market capitalization of $11,439.30, a price-to-earnings ratio of 99.89, a P/E/G ratio of 3.62 and a beta of 0.81. Varian Medical Systems has a 52-week low of $77.73 and a 52-week high of $130.29.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.06. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The company had revenue of $678.50 million during the quarter, compared to analyst estimates of $633.96 million. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. research analysts forecast that Varian Medical Systems will post 4.31 earnings per share for the current fiscal year.
A number of brokerages recently commented on VAR. Citigroup increased their price target on Varian Medical Systems from $128.00 to $132.00 and gave the company a buy rating in a report on Thursday, January 25th. Barrington Research raised Varian Medical Systems from a market perform rating to an outperform rating and set a $130.00 target price on the stock in a report on Thursday, January 25th. BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a report on Sunday, January 28th. JPMorgan Chase & Co. raised their target price on Varian Medical Systems from $88.00 to $105.00 and gave the company a neutral rating in a research report on Thursday, January 25th. Finally, Goldman Sachs Group cut Varian Medical Systems from a neutral rating to a sell rating and set a $98.00 target price on the stock. in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $106.40.
In other news, EVP Kolleen T. Kennedy sold 2,021 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $107.36, for a total transaction of $216,974.56. Following the completion of the sale, the executive vice president now directly owns 27,595 shares of the company’s stock, valued at approximately $2,962,599.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark R. Laret sold 2,161 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $126.97, for a total value of $274,382.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,842 shares of company stock valued at $15,923,110. 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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