Zacks: Brokerages Anticipate Varian Medical Systems, Inc. (NYSE:VAR) Will Announce Earnings of $1.21 Per Share

Equities analysts predict that Varian Medical Systems, Inc. (NYSE:VAR) will announce $1.21 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Varian Medical Systems’ earnings, with the highest EPS estimate coming in at $1.25 and the lowest estimate coming in at $1.19. Varian Medical Systems reported earnings of $1.06 per share in the same quarter last year, which indicates a positive year over year growth rate of 14.2%. The firm is expected to report its next earnings results on Wednesday, January 22nd.

According to Zacks, analysts expect that Varian Medical Systems will report full-year earnings of $5.39 per share for the current year, with EPS estimates ranging from $5.35 to $5.41. For the next year, analysts anticipate that the business will report earnings of $6.14 per share, with EPS estimates ranging from $5.85 to $6.43. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $1.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.21. The business had revenue of $878.90 million for the quarter, compared to analysts’ expectations of $858.47 million. Varian Medical Systems had a net margin of 9.65% and a return on equity of 24.48%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS.

VAR has been the subject of a number of recent analyst reports. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Monday, October 14th. UBS Group boosted their price target on Varian Medical Systems from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barrington Research boosted their price target on Varian Medical Systems from $146.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. ValuEngine cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird reissued a “buy” rating and set a $158.00 price target on shares of Varian Medical Systems in a report on Monday, November 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $145.33.

Shares of NYSE:VAR opened at $138.51 on Monday. The firm’s 50 day moving average is $126.28 and its two-hundred day moving average is $122.82. The firm has a market capitalization of $12.59 billion, a P/E ratio of 29.92, a PEG ratio of 3.22 and a beta of 0.89. Varian Medical Systems has a 52 week low of $103.92 and a 52 week high of $142.50.

In other news, insider Kolleen T. Kennedy sold 4,969 shares of Varian Medical Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $128.00, for a total value of $636,032.00. Following the transaction, the insider now owns 29,915 shares of the company’s stock, valued at approximately $3,829,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Kuo sold 465 shares of Varian Medical Systems stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.30, for a total transaction of $54,079.50. Following the completion of the transaction, the senior vice president now directly owns 35,411 shares in the company, valued at approximately $4,118,299.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,364 shares of company stock worth $802,572. 0.74% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC acquired a new stake in shares of Varian Medical Systems in the second quarter worth about $29,000. Financial Gravity Wealth Inc. increased its holdings in shares of Varian Medical Systems by 1,646.2% in the second quarter. Financial Gravity Wealth Inc. now owns 227 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 214 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of Varian Medical Systems by 651.6% in the second quarter. FinTrust Capital Advisors LLC now owns 233 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new position in shares of Varian Medical Systems during the third quarter valued at $38,000. Finally, Permanens Capital L.P. lifted its position in Varian Medical Systems by 50.0% during the 2nd quarter. Permanens Capital L.P. now owns 300 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 100 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

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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