Analysts forecast that Varian Medical Systems, Inc. (NYSE:VAR) will post $741.71 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Varian Medical Systems’ earnings, with the highest sales estimate coming in at $744.43 million and the lowest estimate coming in at $737.10 million. Varian Medical Systems posted sales of $912.50 million during the same quarter last year, which suggests a negative year-over-year growth rate of 18.7%. The company is scheduled to report its next earnings results after the market closes on Wednesday, October 25th.

According to Zacks, analysts expect that Varian Medical Systems will report full year sales of $741.71 million for the current year, with estimates ranging from $2.67 billion to $2.83 billion. For the next year, analysts expect that the company will report sales of $2.80 billion per share, with estimates ranging from $2.77 billion to $2.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09. The company had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. Varian Medical Systems’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS.

Several brokerages have recently weighed in on VAR. BidaskClub raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Robert W. Baird reissued a “neutral” rating and set a $99.00 price target (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, BTIG Research downgraded shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $97.39.

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In related news, insider Dow R. Wilson sold 15,060 shares of Varian Medical Systems stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $103.37, for a total transaction of $1,556,752.20. Following the completion of the sale, the insider now owns 81,836 shares in the company, valued at approximately $8,459,387.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 933 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $107.29, for a total transaction of $100,101.57. Following the completion of the transaction, the executive vice president now directly owns 27,533 shares of the company’s stock, valued at approximately $2,954,015.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,787 shares of company stock valued at $5,600,457. Insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in VAR. W. E. Donoghue & Co. LLC purchased a new stake in Varian Medical Systems in the 2nd quarter worth approximately $2,243,000. Sentry Investment Management LLC boosted its holdings in shares of Varian Medical Systems by 5.2% during the second quarter. Sentry Investment Management LLC now owns 7,700 shares of the medical equipment provider’s stock worth $795,000 after purchasing an additional 383 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Varian Medical Systems by 23.5% during the second quarter. Toronto Dominion Bank now owns 31,158 shares of the medical equipment provider’s stock worth $3,215,000 after purchasing an additional 5,936 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Varian Medical Systems during the second quarter worth $662,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Varian Medical Systems by 2.6% during the second quarter. Public Employees Retirement System of Ohio now owns 173,969 shares of the medical equipment provider’s stock worth $17,952,000 after purchasing an additional 4,356 shares during the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

Shares of Varian Medical Systems (NYSE VAR) opened at 100.13 on Wednesday. Varian Medical Systems has a one year low of $75.20 and a one year high of $107.87. The firm has a 50-day moving average price of $103.66 and a 200 day moving average price of $98.89. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 32.96 and a beta of 0.56.

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

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