Varian Medical Systems (NYSE:VAR) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.60-4.75 for the period, compared to the Thomson Reuters consensus estimate of $4.75. The company issued revenue guidance of $3.06-3.15 billion, compared to the consensus revenue estimate of $3.1 billion.
VAR stock traded up $1.24 on Wednesday, hitting $126.72. 1,113,298 shares of the company’s stock traded hands, compared to its average volume of 963,915. Varian Medical Systems has a 1-year low of $101.42 and a 1-year high of $130.29. The firm has a market cap of $11.65 billion, a PE ratio of 28.67, a P/E/G ratio of 3.41 and a beta of 0.68.
Varian Medical Systems (NYSE:VAR) last released its earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.04). Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The business had revenue of $801.60 million for the quarter, compared to analyst estimates of $766.26 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts forecast that Varian Medical Systems will post 4.69 earnings per share for the current year.
In other Varian Medical Systems news, CAO Magnus Momsen sold 2,700 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $111.72, for a total value of $301,644.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gary E. Bischoping, Jr. sold 845 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total transaction of $101,602.80. Following the completion of the sale, the senior vice president now owns 1,000 shares of the company’s stock, valued at approximately $120,240. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,596 shares of company stock valued at $1,724,470. 0.74% of the stock is owned by insiders.
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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