Varian Medical Systems, Inc. (NYSE:VAR) – Equities research analysts at Jefferies Financial Group raised their FY2019 earnings estimates for shares of Varian Medical Systems in a research report issued on Tuesday, June 11th. Jefferies Financial Group analyst A. Petrone now forecasts that the medical equipment provider will earn $4.66 per share for the year, up from their prior forecast of $4.65. Jefferies Financial Group also issued estimates for Varian Medical Systems’ Q4 2019 earnings at $1.40 EPS and FY2020 earnings at $5.47 EPS.
Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.11). The business had revenue of $779.40 million for the quarter, compared to analysts’ expectations of $776.28 million. Varian Medical Systems had a return on equity of 24.40% and a net margin of 12.59%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. UBS Group raised their target price on shares of Varian Medical Systems from $150.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barrington Research raised their target price on shares of Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup lowered their target price on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Robert W. Baird upgraded shares of Varian Medical Systems from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $127.00 to $162.00 in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $143.33.
Shares of VAR opened at $132.08 on Friday. The company has a market cap of $12.00 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 3.56 and a beta of 0.84. Varian Medical Systems has a 12-month low of $101.42 and a 12-month high of $142.50.
In related news, SVP Christopher A. Toth sold 2,611 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $138.84, for a total transaction of $362,511.24. Following the completion of the sale, the senior vice president now directly owns 2,332 shares of the company’s stock, valued at $323,774.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John W. Kuo sold 465 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $130.11, for a total value of $60,501.15. Following the sale, the senior vice president now directly owns 35,566 shares of the company’s stock, valued at $4,627,492.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,978 shares of company stock valued at $10,111,208. Corporate insiders own 0.78% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of VAR. Permanens Capital L.P. acquired a new stake in Varian Medical Systems in the first quarter valued at $28,000. Pearl River Capital LLC acquired a new stake in Varian Medical Systems in the fourth quarter valued at $28,000. Global Retirement Partners LLC lifted its holdings in Varian Medical Systems by 121.9% in the fourth quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock valued at $40,000 after acquiring an additional 195 shares during the period. Liberty Wealth Management LLC acquired a new stake in Varian Medical Systems in the fourth quarter valued at $54,000. Finally, Enlightenment Research LLC acquired a new stake in Varian Medical Systems in the fourth quarter valued at $57,000. 91.12% of the stock is owned by hedge funds and other institutional investors.
Varian Medical Systems Company Profile
Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Proton Solutions. The Oncology Systems segment offers hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy, as well as related quality assurance equipment.
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