Zacks: Analysts Expect Varian Medical Systems, Inc. (NYSE:VAR) to Announce $1.21 Earnings Per Share

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Equities analysts forecast that Varian Medical Systems, Inc. (NYSE:VAR) will post earnings of $1.21 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The highest EPS estimate is $1.24 and the lowest is $1.18. Varian Medical Systems posted earnings of $1.16 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The company is scheduled to report its next earnings report on Tuesday, October 22nd.

On average, analysts expect that Varian Medical Systems will report full year earnings of $4.62 per share for the current year, with EPS estimates ranging from $4.60 to $4.66. For the next fiscal year, analysts forecast that the business will post earnings of $5.21 per share, with EPS estimates ranging from $4.95 to $5.42. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. The company had revenue of $825.80 million for the quarter, compared to the consensus estimate of $762.29 million. Varian Medical Systems had a return on equity of 24.91% and a net margin of 10.75%. Varian Medical Systems’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 earnings per share.

VAR has been the subject of several recent analyst reports. Barrington Research restated a “buy” rating and set a $142.00 price target on shares of Varian Medical Systems in a research report on Thursday, July 25th. TheStreet cut Varian Medical Systems from a “b” rating to a “c+” rating in a research note on Monday, August 5th. ValuEngine cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research report on Wednesday, July 24th. Finally, Zacks Investment Research cut Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price target on the stock. in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $141.22.

In related news, SVP Gary E. Bischoping, Jr. sold 56,232 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $132.56, for a total transaction of $7,454,113.92. Following the transaction, the senior vice president now owns 27,393 shares in the company, valued at $3,631,216.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John W. Kuo sold 465 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $131.40, for a total transaction of $61,101.00. Following the sale, the senior vice president now owns 35,566 shares of the company’s stock, valued at $4,673,372.40. The disclosure for this sale can be found here. Insiders sold 72,063 shares of company stock worth $9,586,118 in the last 90 days. 0.78% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of VAR. Arrow Financial Corp acquired a new position in Varian Medical Systems during the second quarter worth $27,000. Permanens Capital L.P. acquired a new stake in Varian Medical Systems during the first quarter worth about $28,000. Quantamental Technologies LLC acquired a new stake in Varian Medical Systems during the second quarter worth about $29,000. Financial Gravity Wealth Inc. grew its stake in Varian Medical Systems by 1,646.2% during the second quarter. Financial Gravity Wealth Inc. now owns 227 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 214 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Varian Medical Systems during the second quarter worth about $32,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Varian Medical Systems stock opened at $118.87 on Friday. Varian Medical Systems has a 12 month low of $101.42 and a 12 month high of $142.50. The stock has a market capitalization of $10.13 billion, a P/E ratio of 26.89, a PEG ratio of 3.01 and a beta of 0.87. The business has a 50 day simple moving average of $111.52 and a two-hundred day simple moving average of $128.85.

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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

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