Varian Medical Systems, Inc. (NYSE:VAR) Issues Q4 Earnings Guidance
Varian Medical Systems, Inc. (NYSE:VAR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.15-$1.23 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.18.
Varian Medical Systems, Inc. (NYSE:VAR) traded down 1.14% on Wednesday, hitting $102.59. The stock had a trading volume of 815,570 shares. Varian Medical Systems, Inc. has a 52-week low of $75.20 and a 52-week high of $107.08. The firm has a market cap of $9.43 billion, a PE ratio of 33.10 and a beta of 0.62. The company has a 50-day moving average price of $103.47 and a 200 day moving average price of $91.27.
Varian Medical Systems (NYSE:VAR) last issued 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. The company had revenue of $655 million during the quarter, compared to analyst estimates of $639.26 million. Varian Medical Systems had a return on equity of 24.82% and a net margin of 9.39%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Equities analysts forecast that Varian Medical Systems, Inc. will post $3.94 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on VAR. BidaskClub lowered Varian Medical Systems from a strong-buy rating to a buy rating in a research note on Monday. Robert W. Baird restated a neutral rating and issued a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a research note on Friday, July 14th. Zacks Investment Research lowered Varian Medical Systems from a buy rating to a hold rating in a research note on Thursday, July 13th. Barrington Research lowered Varian Medical Systems from an outperform rating to a market perform rating in a research note on Thursday, April 27th. Finally, Jefferies Group LLC restated a buy rating on shares of Varian Medical Systems in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $94.21.
In other news, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $104.49, for a total transaction of $113,685.12. Following the sale, the executive vice president now directly owns 27,688 shares in the company, valued at approximately $2,893,119.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John W. Kuo sold 863 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $104.48, for a total value of $90,166.24. Following the sale, the senior vice president now owns 28,224 shares in the company, valued at $2,948,843.52. The disclosure for this sale can be found here. Insiders have sold a total of 147,676 shares of company stock worth $14,979,214 over the last 90 days. Insiders own 0.91% of the company’s stock.
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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