Zacks: Analysts Expect Varian Medical Systems, Inc. (NYSE:VAR) to Post $1.21 EPS

Analysts forecast that Varian Medical Systems, Inc. (NYSE:VAR) will report $1.21 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.24. Varian Medical Systems posted earnings of $1.16 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, October 23rd.

On average, analysts expect that Varian Medical Systems will report full year earnings of $4.63 per share for the current year, with EPS estimates ranging from $4.60 to $4.66. For the next fiscal year, analysts forecast that the firm will post earnings of $5.22 per share, with EPS estimates ranging from $5.00 to $5.42. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data 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. The firm had revenue of $825.80 million during the quarter, compared to the consensus estimate of $762.29 million. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.91%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 earnings per share.

Several equities analysts have recently commented on the stock. Robert W. Baird set a $158.00 price objective on shares of Varian Medical Systems and gave the company a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a research note on Saturday, July 27th. TheStreet downgraded shares of Varian Medical Systems from a “b” rating to a “c+” rating in a research note on Monday, August 5th. Barrington Research upped their price objective on shares of Varian Medical Systems from $142.00 to $146.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Finally, BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Varian Medical Systems currently has an average rating of “Hold” and a consensus target price of $141.67.

In related news, SVP John W. Kuo sold 465 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.30, for a total value of $54,079.50. Following the completion of the transaction, the senior vice president now directly owns 35,411 shares of the company’s stock, valued at $4,118,299.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy E. Guertin sold 12,651 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $135.21, for a total transaction of $1,710,541.71. Following the completion of the transaction, the director now directly owns 13,589 shares of the company’s stock, valued at $1,837,368.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,063 shares of company stock valued at $9,579,096. 0.78% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in VAR. FMR LLC raised its stake in Varian Medical Systems by 245.7% in the first quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock worth $184,244,000 after buying an additional 923,949 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Varian Medical Systems by 14,499.7% during the second quarter. Nuveen Asset Management LLC now owns 378,862 shares of the medical equipment provider’s stock valued at $51,574,000 after purchasing an additional 376,267 shares in the last quarter. BlackRock Inc. increased its stake in shares of Varian Medical Systems by 4.0% during the second quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock valued at $1,132,117,000 after purchasing an additional 319,325 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Varian Medical Systems by 19.7% during the second quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock valued at $257,171,000 after purchasing an additional 311,004 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Varian Medical Systems by 4,724.5% during the first quarter. First Trust Advisors LP now owns 316,002 shares of the medical equipment provider’s stock valued at $44,784,000 after purchasing an additional 309,452 shares in the last quarter. 91.22% of the stock is owned by institutional investors.

Shares of NYSE:VAR traded down $0.97 during midday trading on Wednesday, hitting $113.82. 548,879 shares of the stock traded hands, compared to its average volume of 651,736. The stock has a market capitalization of $10.36 billion, a PE ratio of 25.75, a P/E/G ratio of 2.77 and a beta of 0.87. The business’s 50 day moving average is $111.81 and its two-hundred day moving average is $126.89. Varian Medical Systems has a one year low of $101.42 and a one year high of $142.50.

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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