Zacks: Brokerages Anticipate Varian Medical Systems, Inc. (VAR) to Announce $1.19 EPS

Equities research analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will post earnings per share of $1.19 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Varian Medical Systems’ earnings, with the highest EPS estimate coming in at $1.23 and the lowest estimate coming in at $1.15. Varian Medical Systems posted earnings of $1.09 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 23rd.

According to Zacks, analysts expect that Varian Medical Systems will report full-year earnings of $4.45 per share for the current financial year, with EPS estimates ranging from $4.40 to $4.48. For the next financial year, analysts expect that the company will report earnings of $4.86 per share, with EPS estimates ranging from $4.65 to $4.95. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The business had revenue of $709.10 million for the quarter, compared to analysts’ expectations of $663.19 million. During the same period last year, the business earned $1.04 EPS. The company’s revenue was up 12.1% compared to the same quarter last year.

A number of analysts have recently weighed in on VAR shares. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. JPMorgan Chase & Co. cut shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Thursday, June 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Varian Medical Systems currently has an average rating of “Hold” and an average target price of $117.43.

In related news, SVP John W. Kuo sold 1,327 shares of Varian Medical Systems stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $110.90, for a total value of $147,164.30. Following the completion of the sale, the senior vice president now directly owns 30,551 shares in the company, valued at approximately $3,388,105.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Magnus Momsen sold 2,800 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $111.68, for a total transaction of $312,704.00. The disclosure for this sale can be found here. Insiders sold a total of 16,416 shares of company stock valued at $1,825,949 over the last quarter. 0.78% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its position in Varian Medical Systems by 5.7% during the 1st quarter. Baird Financial Group Inc. now owns 8,006 shares of the medical equipment provider’s stock worth $981,000 after buying an additional 430 shares during the last quarter. First Republic Investment Management Inc. raised its position in Varian Medical Systems by 10.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 5,535 shares of the medical equipment provider’s stock worth $629,000 after buying an additional 511 shares during the last quarter. IFM Investors Pty Ltd raised its position in Varian Medical Systems by 23.6% during the 1st quarter. IFM Investors Pty Ltd now owns 3,064 shares of the medical equipment provider’s stock worth $376,000 after buying an additional 585 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Varian Medical Systems by 17.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,987 shares of the medical equipment provider’s stock worth $454,000 after buying an additional 587 shares during the last quarter. Finally, NorthCoast Asset Management LLC raised its position in Varian Medical Systems by 4.7% during the 2nd quarter. NorthCoast Asset Management LLC now owns 15,010 shares of the medical equipment provider’s stock worth $1,707,000 after buying an additional 672 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Shares of NYSE:VAR traded up $0.80 during trading on Monday, reaching $112.48. The stock had a trading volume of 804,519 shares, compared to its average volume of 520,203. Varian Medical Systems has a one year low of $98.34 and a one year high of $130.29. The stock has a market capitalization of $10.22 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.14 and a beta of 0.79.

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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