Brokerages predict that Varian Medical Systems, Inc. (NYSE:VAR) will announce $762.70 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Varian Medical Systems’ earnings, with the lowest sales estimate coming in at $751.50 million and the highest estimate coming in at $777.71 million. Varian Medical Systems posted sales of $739.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Varian Medical Systems will report full-year sales of $2.88 billion for the current fiscal year, with estimates ranging from $2.87 billion to $2.90 billion. For the next financial year, analysts forecast that the company will post sales of $3.04 billion per share, with estimates ranging from $3.03 billion to $3.06 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Varian Medical Systems.

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

VAR has been the topic of several recent research reports. TheStreet upgraded shares of Varian Medical Systems from a “c” rating to a “b” rating in a research report on Wednesday, April 25th. JPMorgan Chase & Co. downgraded shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research report on Thursday, June 28th. Finally, Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Varian Medical Systems presently has an average rating of “Hold” and an average price target of $115.13.

NYSE:VAR traded up $0.85 during mid-day trading on Thursday, hitting $111.21. 674,029 shares of the company’s stock were exchanged, compared to its average volume of 701,992. Varian Medical Systems has a fifty-two week low of $98.34 and a fifty-two week high of $130.29. The company has a market cap of $10.18 billion, a PE ratio of 30.89, a P/E/G ratio of 3.12 and a beta of 0.82.

In other news, SVP John W. Kuo sold 1,329 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $122.55, for a total value of $162,868.95. Following the transaction, the senior vice president now owns 30,950 shares in the company, valued at approximately $3,792,922.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John W. Kuo sold 962 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $108.84, for a total transaction of $104,704.08. Following the completion of the transaction, the senior vice president now owns 30,848 shares in the company, valued at approximately $3,357,496.32. The disclosure for this sale can be found here. Insiders sold a total of 3,618 shares of company stock worth $420,550 in the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. bought a new stake in Varian Medical Systems during the 2nd quarter valued at $205,000. BNP Paribas Arbitrage SA increased its stake in Varian Medical Systems by 81.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 64,102 shares of the medical equipment provider’s stock valued at $7,290,000 after purchasing an additional 28,680 shares in the last quarter. Montrusco Bolton Investments Inc. increased its stake in Varian Medical Systems by 46.3% during the 2nd quarter. Montrusco Bolton Investments Inc. now owns 88,570 shares of the medical equipment provider’s stock valued at $10,048,000 after purchasing an additional 28,048 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Varian Medical Systems by 44,000.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,528 shares of the medical equipment provider’s stock valued at $401,000 after purchasing an additional 3,520 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new stake in Varian Medical Systems during the 2nd quarter valued at $495,000. Institutional investors own 93.71% of the company’s stock.

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 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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