Analysts expect Varian Medical Systems, Inc. (NYSE:VAR) to post earnings of $0.98 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Varian Medical Systems’ earnings. The lowest EPS estimate is $0.92 and the highest is $1.02. Varian Medical Systems reported earnings of $0.75 per share during the same quarter last year, which indicates a positive year over year growth rate of 30.7%. The business is scheduled 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 earnings of $4.22 per share for the current year, with EPS estimates ranging from $4.11 to $4.25. For the next financial year, analysts forecast that the firm will report earnings of $4.56 per share, with EPS estimates ranging from $4.48 to $4.65. Zacks’ EPS 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 announced its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). The company had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share.

Several brokerages have commented on VAR. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Evercore ISI began coverage on shares of Varian Medical Systems in a report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 target price on the stock. Citigroup raised their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Royal Bank of Canada set a $105.00 price objective on shares of Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, November 30th. Finally, Zacks Investment Research downgraded shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $100.44.

In other news, Director Timothy E. Guertin sold 10,000 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $111.46, for a total value of $1,114,600.00. Following the sale, the director now directly owns 2,161 shares in the company, valued at $240,865.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dow R. Wilson sold 88,766 shares of Varian Medical Systems stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $111.00, for a total transaction of $9,853,026.00. Following the completion of the sale, the insider now owns 155,542 shares in the company, valued at $17,265,162. The disclosure for this sale can be found here. Insiders sold 113,681 shares of company stock worth $12,607,207 over the last quarter. 0.78% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hardman Johnston Global Advisors LLC grew its stake in shares of Varian Medical Systems by 0.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 229,872 shares of the medical equipment provider’s stock valued at $23,001,000 after buying an additional 1,235 shares in the last quarter. State of Wisconsin Investment Board grew its stake in shares of Varian Medical Systems by 5.0% in the third quarter. State of Wisconsin Investment Board now owns 85,312 shares of the medical equipment provider’s stock valued at $8,536,000 after buying an additional 4,025 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Varian Medical Systems in the third quarter valued at $277,000. California Public Employees Retirement System grew its stake in shares of Varian Medical Systems by 7.0% in the third quarter. California Public Employees Retirement System now owns 270,898 shares of the medical equipment provider’s stock valued at $27,106,000 after buying an additional 17,698 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Varian Medical Systems by 1.3% in the third quarter. Neuberger Berman Group LLC now owns 158,198 shares of the medical equipment provider’s stock valued at $15,829,000 after buying an additional 2,104 shares in the last quarter.

Shares of Varian Medical Systems (NYSE:VAR) traded up $0.75 during mid-day trading on Friday, reaching $110.32. 550,885 shares of the company’s stock traded hands, compared to its average volume of 631,355. The firm has a market cap of $10,110.00, a P/E ratio of 39.97, a P/E/G ratio of 3.32 and a beta of 0.68. Varian Medical Systems has a 52-week low of $75.54 and a 52-week high of $114.09.

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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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