Wall Street analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will report $762.70 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Varian Medical Systems’ earnings. The lowest sales estimate is $751.50 million and the highest is $777.71 million. Varian Medical Systems posted sales of $739.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, October 23rd.

According to Zacks, analysts expect that Varian Medical Systems will report full year sales of $2.88 billion for the current year, with estimates ranging from $2.87 billion to $2.90 billion. For the next fiscal year, analysts expect that the company will report sales of $3.04 billion, with estimates ranging from $3.03 billion to $3.06 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Varian Medical Systems had a return on equity of 27.51% and a net margin of 4.07%. The firm had revenue of $709.10 million for the quarter, compared to analysts’ expectations of $663.19 million. During the same period last year, the business posted $1.04 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the stock a “hold” rating in a research report on Thursday, October 4th. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, JPMorgan Chase & Co. lowered Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Thursday, June 28th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Varian Medical Systems has a consensus rating of “Hold” and a consensus target price of $117.43.

NYSE VAR traded up $0.43 during trading hours on Friday, hitting $108.09. The company had a trading volume of 29,227 shares, compared to its average volume of 676,328. Varian Medical Systems has a fifty-two week low of $99.00 and a fifty-two week high of $130.29. The firm has a market capitalization of $10.25 billion, a PE ratio of 29.86, a P/E/G ratio of 3.15 and a beta of 0.78.

In other news, SVP John W. Kuo sold 1,327 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $115.28, for a total transaction of $152,976.56. Following the transaction, the senior vice president now directly owns 30,548 shares of the company’s stock, valued at $3,521,573.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Magnus Momsen sold 2,800 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $111.68, for a total value of $312,704.00. The disclosure for this sale can be found here. Insiders sold 16,516 shares of company stock worth $1,836,970 over the last ninety days. 0.78% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new position in Varian Medical Systems during the first quarter worth about $100,000. Squar Milner Financial Services LLC acquired a new position in Varian Medical Systems during the second quarter worth about $117,000. Piedmont Investment Advisors LLC acquired a new position in Varian Medical Systems during the second quarter worth about $118,000. Itau Unibanco Holding S.A. acquired a new position in Varian Medical Systems during the second quarter worth about $137,000. Finally, NumerixS Investment Technologies Inc acquired a new position in Varian Medical Systems during the second quarter worth about $156,000. 92.44% of the stock is currently owned by institutional investors.

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 Varian Particle Therapy. The Oncology Systems segment provides 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.

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Earnings History and Estimates for Varian Medical Systems (NYSE:VAR)

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