Wall Street brokerages expect Varian Medical Systems, Inc. (NYSE:VAR) to report earnings of $0.94 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Varian Medical Systems’ earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $0.95. Varian Medical Systems posted earnings of $1.22 per share in the same quarter last year, which indicates a negative year over year growth rate of 23%. The company is scheduled to announce its next quarterly earnings report after the market closes 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 financial year, analysts forecast that the firm will report earnings of $4.38 per share, with EPS estimates ranging from $4.28 to $4.66. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $655 million for the quarter, compared to analysts’ expectations of $639.26 million. During the same quarter last year, the business earned $1.09 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year.

VAR has been the topic of several recent research reports. BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Monday, May 8th. BidaskClub lowered Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Citigroup Inc. upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Aegis restated a “hold” rating and issued a $91.00 price objective on shares of Varian Medical Systems in a research report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) began coverage on Varian Medical Systems in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Varian Medical Systems currently has an average rating of “Hold” and an average price target of $94.21.

Shares of Varian Medical Systems (VAR) opened at 105.40 on Wednesday. Varian Medical Systems has a 1-year low of $75.20 and a 1-year high of $107.08. The firm’s 50-day moving average is $103.13 and its 200-day moving average is $91.07. The company has a market cap of $9.69 billion, a PE ratio of 34.01 and a beta of 0.62.

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In other Varian Medical Systems news, Director Susan L. Bostrom sold 3,589 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $91.08, for a total value of $326,886.12. Following the completion of the sale, the director now directly owns 3,809 shares of the company’s stock, valued at approximately $346,923.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John W. Kuo sold 862 shares of the firm’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 sale, 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 147,676 shares of company stock valued at $14,979,214. 0.91% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of VAR. Aperio Group LLC increased its stake in shares of Varian Medical Systems by 10.0% in the second quarter. Aperio Group LLC now owns 86,618 shares of the medical equipment provider’s stock worth $8,938,000 after buying an additional 7,886 shares during the period. LS Investment Advisors LLC increased its stake in shares of Varian Medical Systems by 0.7% in the second quarter. LS Investment Advisors LLC now owns 8,063 shares of the medical equipment provider’s stock worth $832,000 after buying an additional 60 shares during the period. TNB Financial increased its stake in shares of Varian Medical Systems by 1.3% in the second quarter. TNB Financial now owns 83,833 shares of the medical equipment provider’s stock worth $8,651,000 after buying an additional 1,078 shares during the period. North American Management Corp increased its stake in shares of Varian Medical Systems by 11.3% in the second quarter. North American Management Corp now owns 5,900 shares of the medical equipment provider’s stock worth $609,000 after buying an additional 600 shares during the period. Finally, CrestPoint Capital Management LLC increased its stake in shares of Varian Medical Systems by 50.0% in the second quarter. CrestPoint Capital Management LLC now owns 6,900 shares of the medical equipment provider’s stock worth $712,000 after buying an additional 2,300 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.

Varian Medical Systems Company Profile

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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