$852.77 Million in Sales Expected for Varian Medical Systems, Inc. (NYSE:VAR) This Quarter

Equities analysts predict that Varian Medical Systems, Inc. (NYSE:VAR) will announce sales of $852.77 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The lowest sales estimate is $842.60 million and the highest is $869.59 million. Varian Medical Systems posted sales of $801.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The business is scheduled to issue its next earnings report on Tuesday, October 22nd.

On average, analysts expect that Varian Medical Systems will report full-year sales of $3.20 billion for the current year, with estimates ranging from $3.19 billion to $3.22 billion. For the next year, analysts forecast that the company will post sales of $3.51 billion, with estimates ranging from $3.44 billion to $3.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.14 by $0.18. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.91%. The business had revenue of $825.80 million during the quarter, compared to analyst estimates of $762.29 million. During the same period in the prior year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis.

Several research firms recently commented on VAR. Robert W. Baird set a $158.00 target price on shares of Varian Medical Systems and gave the company a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research lowered shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 target price for the company. in a research note on Saturday, July 27th. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, July 24th. Barrington Research reissued a “buy” rating and set a $142.00 target price on shares of Varian Medical Systems in a research note on Thursday, July 25th. Finally, ValuEngine lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Hold” and an average price target of $141.22.

VAR stock traded down $0.02 on Monday, hitting $108.54. 180,423 shares of the company’s stock traded hands, compared to its average volume of 813,877. Varian Medical Systems has a 1-year low of $101.42 and a 1-year high of $142.50. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 2.94 and a beta of 0.84. The stock has a fifty day moving average of $123.41 and a 200-day moving average of $131.44.

In other news, insider Kolleen T. Kennedy sold 1,242 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $131.51, for a total transaction of $163,335.42. Following the sale, the insider now owns 27,789 shares in the company, valued at $3,654,531.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy E. Guertin sold 12,651 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $135.21, for a total transaction of $1,710,541.71. Following the sale, the director now owns 13,589 shares in the company, valued at approximately $1,837,368.69. The disclosure for this sale can be found here. Insiders have sold 73,305 shares of company stock worth $9,749,453 in the last 90 days. 0.78% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in VAR. Geode Capital Management LLC lifted its position in shares of Varian Medical Systems by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 1,259,504 shares of the medical equipment provider’s stock valued at $142,479,000 after acquiring an additional 84,116 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Varian Medical Systems by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 355,174 shares of the medical equipment provider’s stock worth $40,242,000 after purchasing an additional 12,271 shares in the last quarter. Strs Ohio increased its position in shares of Varian Medical Systems by 4.7% during the 1st quarter. Strs Ohio now owns 14,668 shares of the medical equipment provider’s stock worth $2,078,000 after purchasing an additional 654 shares in the last quarter. Eukles Asset Management increased its position in shares of Varian Medical Systems by 0.6% during the 1st quarter. Eukles Asset Management now owns 20,152 shares of the medical equipment provider’s stock worth $2,856,000 after purchasing an additional 117 shares in the last quarter. Finally, BB&T Corp increased its position in shares of Varian Medical Systems by 2.3% during the 1st quarter. BB&T Corp now owns 178,704 shares of the medical equipment provider’s stock worth $25,325,000 after purchasing an additional 4,086 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About Varian Medical Systems

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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