Varian Medical Systems, Inc. (NYSE:VAR) – Research analysts at Jefferies Group dropped their Q1 2018 earnings per share estimates for shares of Varian Medical Systems in a report issued on Wednesday. Jefferies Group analyst A. Petrone now forecasts that the medical equipment provider will earn $1.00 per share for the quarter, down from their previous estimate of $1.07. Jefferies Group also issued estimates for Varian Medical Systems’ FY2019 earnings at $4.65 EPS and FY2020 earnings at $5.10 EPS.

VAR has been the subject of several other research reports. Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Robert W. Baird reissued a “hold” rating and issued a $99.00 price objective on shares of Varian Medical Systems in a research report on Monday, August 28th. Royal Bank Of Canada reissued a “hold” rating and issued a $100.00 price objective on shares of Varian Medical Systems in a research report on Friday, September 1st. BidaskClub lowered shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Citigroup Inc. increased their price objective on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $97.83.

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Varian Medical Systems (NYSE VAR) traded up 0.25% during trading on Monday, hitting $104.45. 395,177 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $104.08 and its 200 day moving average price is $100.70. Varian Medical Systems has a 12-month low of $75.20 and a 12-month high of $108.78. The stock has a market cap of $9.59 billion, a P/E ratio of 34.38 and a beta of 0.56.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). The business had revenue of $739.00 million during 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%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS.

In related news, Director R Andrew Eckert sold 5,651 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $102.39, for a total transaction of $578,605.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the sale, the insider now directly owns 81,835 shares of the company’s stock, valued at $7,895,440.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,887 shares of company stock valued at $5,790,308. Company insiders own 0.91% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. State of Wisconsin Investment Board grew its holdings in Varian Medical Systems by 5.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 85,312 shares of the medical equipment provider’s stock worth $8,536,000 after acquiring an additional 4,025 shares in the last quarter. Stevens Capital Management LP acquired a new position in Varian Medical Systems during the 3rd quarter worth $8,888,000. Chicago Equity Partners LLC grew its holdings in Varian Medical Systems by 14.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 33,770 shares of the medical equipment provider’s stock worth $3,379,000 after acquiring an additional 4,275 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in Varian Medical Systems by 431.0% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 812,983 shares of the medical equipment provider’s stock worth $81,347,000 after acquiring an additional 659,868 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Varian Medical Systems by 5.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,575 shares of the medical equipment provider’s stock worth $1,658,000 after acquiring an additional 794 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

About Varian Medical Systems

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.

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

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