Equities research analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will report sales of $741.71 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The highest sales estimate is $744.43 million and the lowest is $737.10 million. Varian Medical Systems reported sales of $912.50 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 18.7%. The firm is scheduled to issue its next earnings report on Wednesday, October 25th.

On average, analysts expect that Varian Medical Systems will report full year sales of $741.71 million for the current fiscal year, with estimates ranging from $2.67 billion to $2.83 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.80 billion per share, with estimates ranging from $2.77 billion to $2.84 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The business had revenue of $662.40 million during the quarter, compared to the consensus estimate of $663.86 million. During the same period last year, the company earned $1.00 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.

Several analysts have recently issued reports on VAR shares. BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Monday, May 8th. BidaskClub downgraded Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Citigroup Inc. upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Aegis restated a “hold” rating and issued a $91.00 price objective on shares of Varian Medical Systems in a research report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Varian Medical Systems in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $96.28.

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In other Varian Medical Systems news, SVP John W. Kuo sold 862 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $96.39, for a total transaction of $83,088.18. Following the completion of the sale, the senior vice president now directly owns 28,223 shares in the company, valued at $2,720,414.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 26,092 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $105.00, for a total value of $2,739,660.00. Following the sale, the executive vice president now owns 52,692 shares of the company’s stock, valued at $5,532,660. The disclosure for this sale can be found here. Insiders sold 159,146 shares of company stock valued at $16,105,221 over the last quarter. Insiders own 0.91% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Manchester Capital Management LLC raised its stake in shares of Varian Medical Systems by 16.5% in the second quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 150 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after buying an additional 176 shares in the last quarter. Heritage Trust Co purchased a new stake in shares of Varian Medical Systems during the first quarter valued at approximately $118,000. Finally, Penserra Capital Management LLC raised its stake in shares of Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 140 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

Shares of Varian Medical Systems (VAR) opened at 96.20 on Thursday. The firm has a 50 day moving average price of $102.11 and a 200-day moving average price of $93.23. Varian Medical Systems has a 52 week low of $75.20 and a 52 week high of $107.08. The firm has a market capitalization of $8.82 billion, a P/E ratio of 31.67 and a beta of 0.61.

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

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