Equities analysts forecast that Varian Medical Systems, Inc. (NYSE:VAR) will report $1.21 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Varian Medical Systems’ earnings, with estimates ranging from $1.19 to $1.25. Varian Medical Systems posted earnings per share of $1.06 during the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is expected to issue its next earnings results after the market closes on Wednesday, January 29th.
According to Zacks, analysts expect that Varian Medical Systems will report full year earnings of $5.39 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.41. For the next fiscal year, analysts anticipate that the business will post earnings of $6.14 per share, with EPS estimates ranging from $5.85 to $6.43. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Varian Medical Systems.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $1.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.21. Varian Medical Systems had a net margin of 9.65% and a return on equity of 24.48%. The company had revenue of $878.90 million during the quarter, compared to the consensus estimate of $858.47 million. During the same period in the prior year, the business posted $1.16 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis.
A number of equities analysts have recently commented on the stock. UBS Group increased their price objective on shares of Varian Medical Systems from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. BTIG Research upgraded shares of Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Monday, October 14th. Evercore ISI upgraded shares of Varian Medical Systems from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $130.00 to $164.00 in a research note on Thursday, January 2nd. Barrington Research increased their price objective on shares of Varian Medical Systems from $146.00 to $152.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating and set a $156.00 price objective for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $151.11.
Shares of Varian Medical Systems stock traded down $0.16 during trading hours on Thursday, reaching $149.41. 615,983 shares of the company’s stock were exchanged, compared to its average volume of 559,881. The company has a 50 day moving average of $143.69 and a two-hundred day moving average of $125.73. Varian Medical Systems has a fifty-two week low of $103.92 and a fifty-two week high of $150.06. The stock has a market cap of $13.55 billion, a P/E ratio of 44.34, a P/E/G ratio of 3.44 and a beta of 0.89.
In related news, insider Kolleen T. Kennedy sold 4,969 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $128.00, for a total value of $636,032.00. Following the completion of the sale, the insider now directly owns 29,915 shares in the company, valued at approximately $3,829,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John W. Kuo sold 465 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $128.02, for a total transaction of $59,529.30. Following the completion of the sale, the senior vice president now owns 35,568 shares of the company’s stock, valued at $4,553,415.36. The disclosure for this sale can be found here. Insiders sold a total of 18,200 shares of company stock valued at $2,525,045 over the last quarter. 0.78% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Ballentine Partners LLC acquired a new stake in Varian Medical Systems during the fourth quarter worth approximately $201,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Varian Medical Systems by 250.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 560 shares of the medical equipment provider’s stock worth $80,000 after acquiring an additional 400 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Varian Medical Systems during the fourth quarter worth approximately $598,000. NEXT Financial Group Inc lifted its position in Varian Medical Systems by 2,212.9% during the fourth quarter. NEXT Financial Group Inc now owns 1,619 shares of the medical equipment provider’s stock worth $230,000 after acquiring an additional 1,549 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Varian Medical Systems during the fourth quarter worth approximately $232,000. Institutional investors and hedge funds own 88.98% 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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