Zacks: Analysts Anticipate Varian Medical Systems (VAR) Will Post Quarterly Sales of $693.86 Million

Analysts expect that Varian Medical Systems (NYSE:VAR) will post sales of $693.86 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Varian Medical Systems’ earnings, with estimates ranging from $674.20 million to $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 $693.86 million for the current financial year, with estimates ranging from $2.76 billion to $2.80 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.92 billion per share, with estimates ranging from $2.86 billion to $2.98 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Varian Medical Systems.

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Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.06. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. The company had revenue of $678.50 million for the quarter, compared to the consensus estimate of $633.96 million. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year.

Several research analysts recently issued reports on VAR shares. Royal Bank of Canada upped their price target on shares of Varian Medical Systems to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Tuesday, March 13th. ValuEngine upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. TheStreet downgraded shares of Varian Medical Systems from a “b+” rating to a “c” rating in a research report on Monday, February 12th. Finally, Evercore ISI started coverage on shares of Varian Medical Systems in a research report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $111.80.

Shares of NYSE:VAR traded down $2.83 on Friday, hitting $117.64. The stock had a trading volume of 575,865 shares, compared to its average volume of 751,851. The company has a market capitalization of $10,929.55, a PE ratio of 32.68, a P/E/G ratio of 3.47 and a beta of 0.82. Varian Medical Systems has a twelve month low of $87.49 and a twelve month high of $130.29.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 699 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $126.47, for a total transaction of $88,402.53. Following the completion of the sale, the executive vice president now directly owns 27,361 shares of the company’s stock, valued at approximately $3,460,345.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Magnus Momsen sold 1,556 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $126.47, for a total value of $196,787.32. Following the sale, the chief accounting officer now directly owns 6,588 shares of the company’s stock, valued at $833,184.36. The disclosure for this sale can be found here. Insiders have sold a total of 90,568 shares of company stock valued at $10,905,313 over the last three months. Company insiders own 0.78% of the company’s stock.

A number of large investors have recently made changes to their positions in VAR. WASHINGTON TRUST Co raised its holdings in Varian Medical Systems by 100.0% during the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 485 shares during the last quarter. Advisory Services Network LLC raised its holdings in Varian Medical Systems by 3,418.8% during the 4th 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 during the last quarter. MUFG Americas Holdings Corp raised its holdings in Varian Medical Systems by 45.2% during the 4th 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 during the last quarter. Catawba Capital Management VA bought a new stake in Varian Medical Systems during the 4th quarter worth about $210,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Varian Medical Systems by 27.7% during the 4th 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 during the last quarter. 99.21% of the stock is owned by hedge funds and other institutional investors.

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

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