Varian Medical Systems (VAR) Expected to Announce Earnings of $1.03 Per Share

Analysts expect that Varian Medical Systems (NYSE:VAR) will report earnings per share of $1.03 for the current quarter, according to Zacks. Four analysts have made estimates for Varian Medical Systems’ earnings, with the highest EPS estimate coming in at $1.13 and the lowest estimate coming in at $0.94. Varian Medical Systems posted earnings per share of $0.89 in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.7%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, April 25th.

On average, analysts expect that Varian Medical Systems will report full-year earnings of $4.31 per share for the current year, with EPS estimates ranging from $4.25 to $4.36. For the next financial year, analysts expect that the firm will post earnings of $4.78 per share, with EPS estimates ranging from $4.65 to $5.02. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Varian Medical Systems.

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Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.06. The business 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 company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS.

VAR has been the topic of a number of recent research reports. TheStreet downgraded Varian Medical Systems from a “b+” rating to a “c” rating in a research note on Monday, February 12th. Evercore ISI initiated coverage on Varian Medical Systems in a research note on Wednesday, January 3rd. They issued 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 note on Monday, January 29th. ValuEngine upgraded Varian Medical Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase & Co. upped their target price on Varian Medical Systems from $88.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $111.80.

Varian Medical Systems stock opened at $122.65 on Wednesday. The stock has a market cap of $11,197.98, a price-to-earnings ratio of 34.07, a PEG ratio of 3.56 and a beta of 0.85. Varian Medical Systems has a fifty-two week low of $87.49 and a fifty-two week high of $130.29.

In other Varian Medical Systems news, Director Timothy E. Guertin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $111.46, for a total transaction of $1,114,600.00. Following the transaction, the director now owns 2,161 shares in the company, valued at $240,865.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Kuo sold 1,328 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $125.51, for a total value of $166,677.28. Following the transaction, the senior vice president now owns 30,708 shares in the company, valued at approximately $3,854,161.08. The disclosure for this sale can be found here. Insiders have sold 100,568 shares of company stock worth $12,019,913 in the last quarter. 0.78% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. WASHINGTON TRUST Co boosted its position in Varian Medical Systems by 100.0% during the fourth quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 485 shares in the last quarter. Advisory Services Network LLC boosted its position in Varian Medical Systems by 3,418.8% during the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after purchasing an additional 1,641 shares in the last quarter. MUFG Americas Holdings Corp boosted its position in Varian Medical Systems by 45.2% during the fourth quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock worth $190,000 after purchasing an additional 533 shares in the last quarter. Catawba Capital Management VA purchased a new position in Varian Medical Systems during the fourth quarter worth approximately $210,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Varian Medical Systems by 27.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock worth $218,000 after purchasing an additional 427 shares in the last quarter. Institutional investors own 99.21% of the company’s stock.

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About Varian Medical Systems

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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Earnings History and Estimates for Varian Medical Systems (NYSE:VAR)

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