$639.47 Million in Sales Expected for Varian Medical Systems, Inc. (VAR) This Quarter

Analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will report sales of $639.47 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Varian Medical Systems’ earnings. The lowest sales estimate is $627.40 million and the highest is $653.00 million. Varian Medical Systems posted sales of $763.30 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.2%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, January 24th.

According to Zacks, analysts expect that Varian Medical Systems will report full-year sales of $639.47 million for the current fiscal year, with estimates ranging from $2.75 billion to $2.78 billion. For the next year, analysts forecast that the company will report sales of $2.87 billion per share, with estimates ranging from $2.83 billion to $2.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $741.69 million. Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. Varian Medical Systems’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS.

Several research firms have issued reports on VAR. Royal Bank of Canada set a $105.00 price target on Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, November 30th. BTIG Research cut Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Thursday, September 7th. They noted that the move was a valuation call. Evercore ISI began coverage on Varian Medical Systems in a report on Wednesday. They issued an “underperform” rating and a $100.00 price target on the stock. Citigroup upped their price target on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $100.44.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 931 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $105.00, for a total transaction of $97,755.00. Following the sale, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at approximately $2,890,755. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kolleen T. Kennedy sold 1,088 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were 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. Over the last three months, insiders have sold 104,824 shares of company stock worth $11,618,797. Company insiders own 0.91% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC grew its holdings in shares of Varian Medical Systems by 16.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after acquiring an additional 150 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Varian Medical Systems by 0.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after acquiring an additional 11 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Varian Medical Systems by 8.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock valued at $202,000 after acquiring an additional 145 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of Varian Medical Systems during the 2nd quarter valued at $205,000. Finally, Convergence Investment Partners LLC purchased a new position in shares of Varian Medical Systems during the 3rd quarter valued at $219,000. Institutional investors and hedge funds own 99.10% of the company’s stock.

Varian Medical Systems (NYSE VAR) traded up $1.01 during midday trading on Friday, hitting $110.87. The company’s stock had a trading volume of 812,585 shares, compared to its average volume of 682,487. The company has a market capitalization of $10,197.88, a PE ratio of 41.22, a P/E/G ratio of 3.27 and a beta of 0.67. Varian Medical Systems has a 52 week low of $76.94 and a 52 week high of $114.09.

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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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