Varian Medical Systems (VAR) Issues Quarterly Earnings Results
Varian Medical Systems (NYSE:VAR) issued its quarterly earnings results on Tuesday. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.06, Bloomberg Earnings reports. Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The firm had revenue of $678.50 million during the quarter, compared to analyst estimates of $633.96 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year.
Varian Medical Systems (NYSE VAR) traded up $2.24 during midday trading on Wednesday, hitting $113.05. The stock had a trading volume of 1,180,550 shares, compared to its average volume of 764,231. Varian Medical Systems has a 12 month low of $76.94 and a 12 month high of $114.09. The company has a market cap of $10,360.00, a price-to-earnings ratio of 40.96, a PEG ratio of 3.35 and a beta of 0.68.
Several equities research analysts have issued reports on VAR shares. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Royal Bank of Canada set a $105.00 price target on Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, November 30th. Citigroup boosted their target price on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Finally, Evercore ISI initiated coverage on Varian Medical Systems in a research note on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $100.44.
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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.
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