Varian Medical Systems (VAR) Issues FY18 Earnings Guidance
Varian Medical Systems (NYSE:VAR) updated its FY18 earnings guidance on Friday. The company provided EPS guidance of ~$4.05-4.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.30. The company issued revenue guidance of +3-5% to ~$2.78-2.8 billion, compared to the consensus revenue estimate of $2.76 billion.
Several equities research analysts have weighed in on VAR shares. Royal Bank of Canada set a $105.00 target price on Varian Medical Systems and gave the stock a hold rating in a research report on Thursday, November 30th. Evercore ISI started coverage on Varian Medical Systems in a research report on Wednesday, January 3rd. They issued an underperform rating and a $100.00 target price on the stock. Citigroup increased their target price on Varian Medical Systems from $119.00 to $121.00 and gave the stock a neutral rating in a research report on Monday, October 30th. BTIG Research reissued a hold rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Finally, Zacks Investment Research lowered Varian Medical Systems from a hold rating to a sell rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Varian Medical Systems presently has a consensus rating of Hold and a consensus price target of $100.44.
Varian Medical Systems (VAR) opened at $111.53 on Friday. The stock has a market capitalization of $10,220.00, a PE ratio of 40.41, a P/E/G ratio of 3.26 and a beta of 0.68. Varian Medical Systems has a fifty-two week low of $76.94 and a fifty-two week high of $114.09.
Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The firm had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. Varian Medical Systems’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. research analysts predict that Varian Medical Systems will post 4.25 EPS for the current fiscal year.
In other news, insider Dow R. Wilson sold 88,766 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $111.00, for a total transaction of $9,853,026.00. Following the completion of the sale, the insider now directly owns 155,542 shares of the company’s stock, valued at approximately $17,265,162. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John W. Kuo sold 7,991 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $110.65, for a total value of $884,204.15. Following the sale, the senior vice president now directly owns 27,363 shares of the company’s stock, valued at $3,027,715.95. The disclosure for this sale can be found here. Insiders sold a total of 111,727 shares of company stock valued at $12,392,515 in the last quarter. 0.78% of the stock is currently owned by corporate insiders.
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Varian Medical Systems Company Profile
Varian Medical Systems, Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.
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