Equities analysts expect Varian Medical Systems (NYSE:VAR) to report $693.86 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Varian Medical Systems’ earnings. The lowest sales estimate is $674.20 million and the highest is $715.30 million. Varian Medical Systems reported sales of $655.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.9%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Varian Medical Systems will report full-year sales of $2.78 billion for the current year, with estimates ranging from $2.76 billion to $2.80 billion. For the next year, analysts expect that the firm will post sales of $2.92 billion per share, with estimates ranging from $2.86 billion to $2.98 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Varian Medical Systems.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.06. The company had revenue of $678.50 million for the quarter, compared to the consensus estimate of $633.96 million. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS.
VAR has been the topic of several analyst reports. TheStreet cut Varian Medical Systems from a “b+” rating to a “c” rating in a research report on Monday, February 12th. Evercore ISI initiated 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. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. ValuEngine upgraded Varian Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $111.80.
In related news, insider Dow R. Wilson sold 24,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $126.73, for a total value of $3,041,520.00. Following the transaction, the insider now directly owns 90,776 shares of the company’s stock, valued at approximately $11,504,042.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John W. Kuo sold 6,442 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $120.67, for a total transaction of $777,356.14. Following the completion of the transaction, the senior vice president now directly owns 28,224 shares in the company, valued at $3,405,790.08. The disclosure for this sale can be found here. Insiders sold a total of 81,719 shares of company stock worth $9,954,709 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of VAR. Renaissance Technologies LLC lifted its stake in Varian Medical Systems by 438.0% in the 4th quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock valued at $82,940,000 after buying an additional 607,500 shares in the last quarter. American Century Companies Inc. lifted its stake in Varian Medical Systems by 313.9% in the 4th quarter. American Century Companies Inc. now owns 568,237 shares of the medical equipment provider’s stock valued at $63,160,000 after buying an additional 430,934 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Varian Medical Systems in the 4th quarter valued at about $19,511,000. Schroder Investment Management Group lifted its stake in Varian Medical Systems by 291.2% in the 4th quarter. Schroder Investment Management Group now owns 159,641 shares of the medical equipment provider’s stock worth $17,744,000 after purchasing an additional 118,833 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Varian Medical Systems by 6.7% in the 4th quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock worth $164,846,000 after purchasing an additional 111,482 shares in the last quarter. 99.09% of the stock is currently owned by hedge funds and other institutional investors.
VAR traded down $0.29 during midday trading on Monday, hitting $126.50. 520,122 shares of the company were exchanged, compared to its average volume of 595,019. The company has a market capitalization of $11,575.96, a P/E ratio of 35.14, a P/E/G ratio of 3.68 and a beta of 0.82. Varian Medical Systems has a 1-year low of $87.49 and a 1-year high of $130.29.
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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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