Brokerages Expect Varian Medical Systems, Inc. (VAR) Will Announce Quarterly Sales of $693.86 Million

Wall Street analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will announce $693.86 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Varian Medical Systems’ earnings. The highest sales estimate is $715.30 million and the lowest is $674.20 million. Varian Medical Systems reported sales of $655.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The business is expected to announce its next quarterly earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Varian Medical Systems will report full year sales of $693.86 million for the current financial year, with estimates ranging from $2.76 billion to $2.80 billion. For the next financial year, analysts expect that the company will report sales of $2.92 billion per share, with estimates ranging from $2.86 billion to $2.98 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 issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.06. The company had revenue of $678.50 million during the quarter, compared to the consensus estimate of $633.96 million. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. Varian Medical Systems’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of Varian Medical Systems from $88.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Barrington Research raised shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research note on Thursday, January 25th. Finally, Citigroup boosted their price objective on shares of Varian Medical Systems from $128.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $106.40.

Varian Medical Systems (NYSE:VAR) opened at $118.58 on Wednesday. The company has a market cap of $10,860.00, a P/E ratio of 85.31, a P/E/G ratio of 3.62 and a beta of 0.81. Varian Medical Systems has a 12 month low of $77.73 and a 12 month high of $130.29.

In other Varian Medical Systems news, Director Mark R. Laret sold 2,161 shares of Varian Medical Systems stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $126.97, for a total value of $274,382.17. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kolleen T. Kennedy sold 2,021 shares of Varian Medical Systems stock in a transaction on Monday, November 13th. The stock was sold at an average price of $107.36, for a total transaction of $216,974.56. Following the completion of the transaction, the executive vice president now directly owns 27,595 shares in the company, valued at $2,962,599.20. The disclosure for this sale can be found here. Insiders sold 139,842 shares of company stock worth $15,923,110 over the last ninety days. Corporate insiders own 0.78% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WASHINGTON TRUST Co grew its holdings in shares of Varian Medical Systems by 100.0% during the fourth quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 485 shares during the last quarter. NorthCoast Asset Management LLC grew its holdings in shares of Varian Medical Systems by 100.6% during the fourth quarter. NorthCoast Asset Management LLC now owns 14,731 shares of the medical equipment provider’s stock valued at $1,637,000 after buying an additional 7,387 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Varian Medical Systems by 313.9% during the fourth quarter. American Century Companies Inc. now owns 568,237 shares of the medical equipment provider’s stock valued at $63,160,000 after buying an additional 430,934 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Varian Medical Systems by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 17,742 shares of the medical equipment provider’s stock valued at $1,972,000 after buying an additional 585 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Varian Medical Systems by 11.4% during the fourth quarter. Victory Capital Management Inc. now owns 24,054 shares of the medical equipment provider’s stock valued at $2,674,000 after buying an additional 2,461 shares during the last quarter. 99.19% of the stock is currently owned by institutional investors and hedge funds.

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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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