Brokerages forecast that Varian Medical Systems, Inc. (NYSE:VAR) will report $663.22 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The lowest sales estimate is $661.70 million and the highest is $666.40 million. Varian Medical Systems posted sales of $789.40 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 16%. The business is expected to issue its next earnings results after the market closes on Wednesday, July 26th.

According to Zacks, analysts expect that Varian Medical Systems will report full year sales of $663.22 million for the current fiscal year, with estimates ranging from $2.69 billion to $2.85 billion. For the next financial year, analysts anticipate that the company will report sales of $2.86 billion per share, with estimates ranging from $2.78 billion to $2.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Varian Medical Systems.

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

VAR has been the topic of a number of research analyst reports. Off Wall Street initiated coverage on shares of Varian Medical Systems in a research note on Monday, April 24th. They set a “sell” rating on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Varian Medical Systems in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 price target on the stock. Zacks Investment Research upgraded shares of Varian Medical Systems from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 6th. BTIG Research upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Monday, May 8th. Finally, Citigroup Inc. upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $94.21.

Shares of Varian Medical Systems (NYSE:VAR) traded down 0.45% during midday trading on Friday, reaching $103.88. 473,980 shares of the company traded hands. The company has a 50 day moving average of $103.47 and a 200 day moving average of $91.27. Varian Medical Systems has a 12 month low of $75.20 and a 12 month high of $107.08. The firm has a market capitalization of $9.55 billion, a P/E ratio of 33.52 and a beta of 0.62.

In related news, EVP Kolleen T. Kennedy sold 1,088 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $104.49, for a total transaction of $113,685.12. Following the transaction, the executive vice president now owns 27,688 shares of the company’s stock, valued at $2,893,119.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John W. Kuo sold 1,597 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $104.43, for a total transaction of $166,774.71. Following the transaction, the senior vice president now directly owns 28,224 shares in the company, valued at approximately $2,947,432.32. The disclosure for this sale can be found here. In the last three months, insiders sold 147,676 shares of company stock worth $14,979,214. Insiders own 0.91% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. raised its position in shares of 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 worth $100,000 after buying an additional 25 shares during the period. Parallel Advisors LLC increased 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 worth $113,000 after buying an additional 176 shares in the last quarter. Heritage Trust Co acquired a new stake in Varian Medical Systems during the first quarter worth $118,000. Penserra Capital Management LLC increased 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 worth $146,000 after buying an additional 140 shares in the last quarter. Finally, Pacer Advisors Inc. increased 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 worth $165,000 after buying an additional 55 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

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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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