Brokerages expect that Varian Medical Systems, Inc. (NYSE:VAR) will post sales of $639.47 million for the current quarter, according to Zacks. Four analysts have issued estimates for Varian Medical Systems’ earnings. The highest sales estimate is $653.00 million and the lowest is $627.40 million. Varian Medical Systems reported sales of $763.30 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.2%. The company is expected to announce its next earnings results on Wednesday, January 24th.
On average, analysts expect that Varian Medical Systems will report full-year sales of $639.47 million for the current financial year, with estimates ranging from $2.75 billion to $2.78 billion. For the next year, analysts forecast that the business will report sales of $2.87 billion per share, with estimates ranging from $2.83 billion to $2.91 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Varian Medical Systems.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $741.69 million. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year.
In other news, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $105.41, for a total transaction of $1,587,369.19. Following the completion of the transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at approximately $8,626,227.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $101.55, for a total transaction of $110,486.40. The disclosure for this sale can be found here. Insiders have sold a total of 41,830 shares of company stock worth $4,350,109 over the last 90 days. Corporate insiders own 0.91% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Varian Medical Systems by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 310,309 shares of the medical equipment provider’s stock valued at $28,278,000 after buying an additional 18,397 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Varian Medical Systems in the second quarter valued at $206,000. Speece Thorson Capital Group Inc. grew its stake in shares of Varian Medical Systems by 0.5% in the second quarter. Speece Thorson Capital Group Inc. now owns 123,055 shares of the medical equipment provider’s stock valued at $12,698,000 after buying an additional 558 shares in the last quarter. Sei Investments Co. grew its stake in shares of Varian Medical Systems by 2.3% in the second quarter. Sei Investments Co. now owns 11,593 shares of the medical equipment provider’s stock valued at $1,196,000 after buying an additional 257 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Varian Medical Systems by 45.1% in the second quarter. Candriam Luxembourg S.C.A. now owns 14,866 shares of the medical equipment provider’s stock valued at $1,534,000 after buying an additional 4,621 shares in the last quarter. 99.15% of the stock is owned by institutional investors.
Shares of Varian Medical Systems (VAR) traded up $0.53 during mid-day trading on Friday, hitting $111.75. 1,618,400 shares of the stock were exchanged, compared to its average volume of 867,200. Varian Medical Systems has a 52 week low of $76.94 and a 52 week high of $112.45. The firm has a market cap of $10,240.00, a PE ratio of 29.05, a price-to-earnings-growth ratio of 3.22 and a beta of 0.65.
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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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