Brokerages Expect Varian Medical Systems, Inc. (VAR) Will Announce Earnings of $0.94 Per Share

Wall Street analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will announce $0.94 earnings per share 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 $0.95 and the lowest estimate coming in at $0.94. Varian Medical Systems posted earnings of $1.22 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 23%. The firm is scheduled to report its next quarterly earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Varian Medical Systems will report full-year earnings of $3.92 per share for the current financial year, with EPS estimates ranging from $3.76 to $4.04. For the next fiscal year, analysts expect that the company will post earnings of $4.38 per share, with EPS estimates ranging from $4.28 to $4.66. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. Varian Medical Systems had a net margin of 9.39% and a return on equity of 24.82%. The business had revenue of $655 million during the quarter, compared to analyst estimates of $639.26 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

VAR has been the topic of several research reports. TheStreet raised Varian Medical Systems from a “c+” rating to a “b+” rating in a research report on Wednesday, April 26th. Citigroup Inc. raised Varian Medical Systems from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Monday, May 8th. Finally, BidaskClub lowered Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Varian Medical Systems has an average rating of “Hold” and a consensus price target of $93.54.

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Shares of Varian Medical Systems (NYSE VAR) traded down 0.81% during midday trading on Friday, hitting $104.18. 467,035 shares of the company were exchanged. The company has a 50-day moving average price of $98.35 and a 200-day moving average price of $87.66. Varian Medical Systems has a 52-week low of $68.08 and a 52-week high of $105.30. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 33.62 and a beta of 0.63.

In related news, EVP Kolleen T. Kennedy sold 26,092 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $105.00, for a total transaction of $2,739,660.00. Following the completion of the sale, the executive vice president now directly owns 52,692 shares of the company’s stock, valued at approximately $5,532,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John W. Kuo sold 864 shares of the firm’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $89.74, for a total value of $77,535.36. Following the sale, the senior vice president now directly owns 27,914 shares of the company’s stock, valued at $2,505,002.36. The disclosure for this sale can be found here. Insiders have sold a total of 127,911 shares of company stock valued at $12,917,712 in the last 90 days. 0.91% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in VAR. First Mercantile Trust Co. boosted its stake in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the period. Parallel Advisors LLC boosted its stake in Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 176 shares during the period. Heritage Trust Co purchased a new stake in Varian Medical Systems during the first quarter valued at approximately $118,000. Penserra Capital Management LLC boosted its stake in Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 140 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock valued at $165,000 after buying an additional 55 shares during the period. 99.69% of the stock is owned by institutional investors.

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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