Varian Medical Systems, Inc. (NYSE:VAR) – Investment analysts at Barrington Research cut their Q4 2019 earnings estimates for Varian Medical Systems in a report issued on Wednesday, May 22nd. Barrington Research analyst M. Petusky now expects that the medical equipment provider will post earnings of $1.39 per share for the quarter, down from their previous forecast of $1.40. Barrington Research currently has a “Outperform” rating and a $150.00 price target on the stock. Barrington Research also issued estimates for Varian Medical Systems’ Q4 2020 earnings at $1.42 EPS and FY2021 earnings at $5.45 EPS.

Other research analysts also recently issued research reports about the company. UBS Group boosted their target price on Varian Medical Systems from $150.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Citigroup lowered their target price on Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Robert W. Baird upgraded Varian Medical Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $127.00 to $162.00 in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Varian Medical Systems presently has an average rating of “Buy” and a consensus price target of $143.33.

Shares of NYSE VAR opened at $128.07 on Friday. Varian Medical Systems has a one year low of $101.42 and a one year high of $142.50. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 3.43 and a beta of 0.81.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.11). Varian Medical Systems had a net margin of 12.59% and a return on equity of 24.40%. The firm had revenue of $779.40 million during the quarter, compared to analysts’ expectations of $776.28 million. During the same quarter last year, the firm earned $1.15 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year.

In other news, CFO Gary E. Bischoping, Jr. sold 845 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $127.94, for a total transaction of $108,109.30. Following the completion of the sale, the chief financial officer now owns 2,283 shares in the company, valued at approximately $292,087.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Christopher A. Toth sold 1,400 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $142.50, for a total value of $199,500.00. Following the sale, the senior vice president now owns 2,521 shares of the company’s stock, valued at approximately $359,242.50. The disclosure for this sale can be found here. Insiders sold 72,522 shares of company stock worth $10,184,649 in the last 90 days. Corporate insiders own 0.78% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in shares of Varian Medical Systems during the 4th quarter worth about $28,000. Permanens Capital L.P. bought a new stake in shares of Varian Medical Systems during the 1st quarter worth about $28,000. First Personal Financial Services boosted its stake in shares of Varian Medical Systems by 58.8% during the 4th quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock worth $40,000 after acquiring an additional 130 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Varian Medical Systems by 121.9% during the 4th quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock worth $40,000 after purchasing an additional 195 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Varian Medical Systems during the 4th quarter worth about $49,000. Institutional investors own 91.19% of the company’s stock.

Varian Medical Systems Company Profile

Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Proton Solutions. The Oncology Systems segment offers hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy, as well as related quality assurance equipment.

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

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