Brokerages expect that Varian Medical Systems, Inc. (NYSE:VAR) will report sales of $741.71 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings, with the lowest sales estimate coming in at $737.10 million and the highest estimate coming in at $744.43 million. Varian Medical Systems reported sales of $912.50 million during the same quarter last year, which indicates a negative year-over-year growth rate of 18.7%. The company is expected to report its next quarterly earnings results after the market closes 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 year, analysts anticipate that the company will post sales of $2.80 billion per share, with estimates ranging from $2.77 billion to $2.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Varian Medical Systems.

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

A number of analysts have commented on VAR shares. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 target price for the company in a report on Monday, May 8th. BidaskClub lowered Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Citigroup Inc. raised Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Aegis reissued a “hold” rating and issued a $91.00 target price on shares of Varian Medical Systems in a report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Varian Medical Systems in a report on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $96.28.

In related news, SVP John W. Kuo sold 19,819 shares of Varian Medical Systems stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $99.67, for a total value of $1,975,359.73. Following the completion of the sale, the senior vice president now owns 47,180 shares of the company’s stock, valued at $4,702,430.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 734 shares of Varian Medical Systems stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $101.91, for a total value of $74,801.94. Following the completion of the sale, the senior vice president now directly owns 28,095 shares of the company’s stock, valued at approximately $2,863,161.45. The disclosure for this sale can be found here. Insiders sold 159,372 shares of company stock valued at $16,128,658 in the last ninety days. 0.91% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Sentry Investment Management LLC raised its stake in shares of Varian Medical Systems by 5.2% in the second quarter. Sentry Investment Management LLC now owns 7,700 shares of the medical equipment provider’s stock valued at $795,000 after buying an additional 383 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Varian Medical Systems by 23.5% in the second quarter. Toronto Dominion Bank now owns 31,158 shares of the medical equipment provider’s stock valued at $3,215,000 after buying an additional 5,936 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Varian Medical Systems during the second quarter valued at approximately $662,000. Public Employees Retirement System of Ohio raised its stake in shares of Varian Medical Systems by 2.6% in the second quarter. Public Employees Retirement System of Ohio now owns 173,969 shares of the medical equipment provider’s stock valued at $17,952,000 after buying an additional 4,356 shares during the last quarter. Finally, Koch Industries Inc. raised its stake in shares of Varian Medical Systems by 57,988.4% in the second quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock valued at $1,315,000 after buying an additional 1,325,615 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Varian Medical Systems (VAR) opened at 101.99 on Monday. The stock’s 50 day moving average is $100.97 and its 200 day moving average is $94.96. Varian Medical Systems has a 52 week low of $75.20 and a 52 week high of $107.08. The company has a market capitalization of $9.36 billion, a PE ratio of 33.57 and a beta of 0.61.

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

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