Equities analysts expect that Varian Medical Systems (NYSE:VAR) will announce $1.03 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Varian Medical Systems’ earnings. The highest EPS estimate is $1.13 and the lowest is $0.94. Varian Medical Systems reported earnings of $0.89 per share in the same quarter last year, which suggests a positive year over year growth rate of 15.7%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Varian Medical Systems will report full year earnings of $4.31 per share for the current fiscal year, with EPS estimates ranging from $4.25 to $4.36. For the next fiscal year, analysts expect that the company will post earnings of $4.78 per share, with EPS estimates ranging from $4.65 to $5.02. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Varian Medical Systems.
Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $633.96 million. During the same period in the prior year, the firm earned $1.09 earnings per share. Varian Medical Systems’s revenue for the quarter was up 12.8% on a year-over-year basis.
VAR has been the topic of a number of research reports. Royal Bank of Canada upped their target price on Varian Medical Systems to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. ValuEngine raised Varian Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. TheStreet lowered Varian Medical Systems from a “b+” rating to a “c” rating in a research report on Monday, February 12th. Zacks Investment Research raised Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Finally, Evercore ISI initiated coverage on Varian Medical Systems in a research report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $111.80.
Shares of NYSE:VAR traded up $0.41 during trading on Friday, reaching $126.54. 221,893 shares of the stock were exchanged, compared to its average volume of 733,804. Varian Medical Systems has a 1-year low of $87.49 and a 1-year high of $130.29. The firm has a market capitalization of $11,234.50, a price-to-earnings ratio of 30.16, a PEG ratio of 3.57 and a beta of 0.82.
In other Varian Medical Systems news, SVP John W. Kuo sold 1,328 shares of the company’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $121.94, for a total value of $161,936.32. Following the completion of the transaction, the senior vice president now owns 30,708 shares in the company, valued at approximately $3,744,533.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Magnus Momsen sold 1,556 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $126.47, for a total value of $196,787.32. Following the completion of the transaction, the chief accounting officer now owns 6,588 shares of the company’s stock, valued at approximately $833,184.36. The disclosure for this sale can be found here. Insiders sold a total of 81,719 shares of company stock valued at $9,954,709 in the last 90 days. Corporate insiders own 0.78% of the company’s stock.
Large investors have recently made changes to their positions in the business. WASHINGTON TRUST Co grew its stake in Varian Medical Systems by 100.0% in the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock valued at $108,000 after purchasing an additional 485 shares during the period. Advisory Services Network LLC grew its stake in Varian Medical Systems by 3,418.8% in the 4th quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock valued at $188,000 after purchasing an additional 1,641 shares during the period. MUFG Americas Holdings Corp grew its stake in Varian Medical Systems by 45.2% in the 4th quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock valued at $190,000 after purchasing an additional 533 shares during the period. Catawba Capital Management VA bought a new position in Varian Medical Systems in the 4th quarter valued at $210,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in Varian Medical Systems by 27.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock valued at $218,000 after purchasing an additional 427 shares during the period. Hedge funds and other institutional investors own 99.09% of the company’s stock.
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Varian Medical Systems Company Profile
Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.
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