Zacks: Brokerages Anticipate Varian Medical Systems, Inc. (VAR) to Post $1.19 Earnings Per Share

Analysts predict that Varian Medical Systems, Inc. (NYSE:VAR) will announce earnings per share (EPS) of $1.19 for the current quarter, Zacks reports. Four analysts have made estimates for Varian Medical Systems’ earnings. The lowest EPS estimate is $1.17 and the highest is $1.20. Varian Medical Systems reported earnings of $1.38 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.

According to Zacks, analysts expect that Varian Medical Systems will report full-year earnings of $3.94 per share for the current fiscal year, with EPS estimates ranging from $3.76 to $4.04. For the next year, analysts forecast that the company will post earnings of $4.38 per share, with EPS estimates ranging from $4.28 to $4.55. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09. The business had revenue of $662.40 million during the quarter, compared to the consensus estimate of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share.

A number of equities research analysts have weighed in on VAR shares. Off Wall Street started coverage on Varian Medical Systems in a research report on Monday, April 24th. They set a “sell” rating for the company. Royal Bank Of Canada lifted their target price on Varian Medical Systems from $82.00 to $90.00 and gave the company a “sector perform” rating in a research report on Thursday, April 27th. Barrington Research lowered Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 27th. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, TheStreet raised Varian Medical Systems from a “c+” rating to a “b+” rating in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $96.28.

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In other news, SVP John W. Kuo sold 1,597 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $104.43, for a total value of $166,774.71. Following the completion of the transaction, the senior vice president now directly owns 28,224 shares of the company’s stock, valued at approximately $2,947,432.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John W. Kuo sold 862 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $96.39, for a total value of $83,088.18. Following the completion of the transaction, the senior vice president now directly owns 28,223 shares of the company’s stock, valued at $2,720,414.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,087 shares of company stock valued at $14,652,328. Corporate insiders own 0.91% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VAR. Vanguard Group Inc. raised its position in Varian Medical Systems by 3.3% in the first quarter. Vanguard Group Inc. now owns 9,007,195 shares of the medical equipment provider’s stock valued at $820,826,000 after buying an additional 286,939 shares during the last quarter. BlackRock Inc. raised its position in Varian Medical Systems by 3,169.5% in the first quarter. BlackRock Inc. now owns 7,899,768 shares of the medical equipment provider’s stock valued at $719,907,000 after buying an additional 7,658,148 shares during the last quarter. First Eagle Investment Management LLC raised its position in Varian Medical Systems by 0.8% in the second quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock valued at $482,875,000 after buying an additional 38,005 shares during the last quarter. State Street Corp raised its position in Varian Medical Systems by 1.3% in the first quarter. State Street Corp now owns 4,324,762 shares of the medical equipment provider’s stock valued at $394,109,000 after buying an additional 57,090 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in Varian Medical Systems by 8.5% in the first quarter. Janus Capital Management LLC now owns 3,932,124 shares of the medical equipment provider’s stock valued at $358,332,000 after buying an additional 306,975 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Varian Medical Systems (VAR) traded down 0.39% during trading on Tuesday, reaching $96.10. The company’s stock had a trading volume of 34,628 shares. The firm’s 50-day moving average price is $103.21 and its 200 day moving average price is $92.66. Varian Medical Systems has a 12-month low of $75.20 and a 12-month high of $107.08. The company has a market capitalization of $8.81 billion, a P/E ratio of 31.63 and a beta of 0.61.

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

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