Equities research analysts expect Varian Medical Systems, Inc. (NYSE:VAR) to report sales of $779.01 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Varian Medical Systems’ earnings. The highest sales estimate is $789.05 million and the lowest is $766.60 million. Varian Medical Systems posted sales of $729.90 million in the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The firm is expected to issue its next earnings report after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that Varian Medical Systems will report full-year sales of $3.13 billion for the current year, with estimates ranging from $3.11 billion to $3.16 billion. For the next financial year, analysts expect that the business will report sales of $3.34 billion, with estimates ranging from $3.29 billion to $3.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The company had revenue of $741.00 million for the quarter, compared to the consensus estimate of $717.83 million. During the same period in the previous year, the firm earned $1.06 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year.

Several research analysts have issued reports on the company. Barrington Research boosted their target price on Varian Medical Systems from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Robert W. Baird upgraded Varian Medical Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $127.00 to $162.00 in a research report on Friday, March 22nd. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 target price for the company in a research report on Saturday, January 26th. Royal Bank of Canada boosted their target price on Varian Medical Systems to $130.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. Finally, BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $137.56.

Shares of NYSE:VAR traded down $0.07 during trading hours on Thursday, hitting $140.52. 408,954 shares of the company’s stock traded hands, compared to its average volume of 662,696. Varian Medical Systems has a 1 year low of $101.42 and a 1 year high of $142.50. The firm has a market capitalization of $12.80 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 3.73 and a beta of 0.86.

In related news, SVP Christopher A. Toth sold 4,621 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $135.17, for a total value of $624,620.57. Following the completion of the sale, the senior vice president now owns 2,936 shares in the company, valued at $396,859.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Andrew Eckert sold 5,651 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $130.15, for a total value of $735,477.65. Following the completion of the sale, the director now owns 9,806 shares of the company’s stock, valued at approximately $1,276,250.90. The disclosure for this sale can be found here. Insiders sold 99,590 shares of company stock valued at $13,536,953 in the last quarter. 0.78% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in VAR. Norges Bank purchased a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $82,958,000. Renaissance Technologies LLC boosted its holdings in shares of Varian Medical Systems by 147.8% in the third quarter. Renaissance Technologies LLC now owns 1,215,993 shares of the medical equipment provider’s stock valued at $136,106,000 after purchasing an additional 725,193 shares during the period. Deutsche Bank AG boosted its holdings in shares of Varian Medical Systems by 154.3% in the third quarter. Deutsche Bank AG now owns 567,957 shares of the medical equipment provider’s stock valued at $63,567,000 after purchasing an additional 344,639 shares during the period. FMR LLC boosted its holdings in shares of Varian Medical Systems by 222.3% in the fourth quarter. FMR LLC now owns 376,111 shares of the medical equipment provider’s stock valued at $42,617,000 after purchasing an additional 259,404 shares during the period. Finally, Polar Capital LLP purchased a new stake in shares of Varian Medical Systems in the fourth quarter valued at approximately $28,824,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.

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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