Analysts predict that Varian Medical Systems, Inc. (NYSE:VAR) will report earnings of $0.94 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Varian Medical Systems’ earnings. The lowest EPS estimate is $0.94 and the highest is $0.95. Varian Medical Systems posted earnings per share of $1.22 in the same quarter last year, which suggests a negative year-over-year growth rate of 23%. The business is expected to issue its next earnings results on Wednesday, July 26th.

On average, analysts expect that Varian Medical Systems will report full-year earnings of $3.92 per share for the current year, with EPS estimates ranging from $3.76 to $4.04. For the next financial year, analysts forecast that the business will report earnings of $4.38 per share, with EPS estimates ranging from $4.28 to $4.66. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The company had revenue of $655 million during the quarter, compared to analyst estimates of $639.26 million. Varian Medical Systems had a return on equity of 24.82% and a net margin of 9.39%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share.

A number of research analysts have weighed in on the stock. Barrington Research lowered shares of Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. BidaskClub lowered shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Aegis reaffirmed a “hold” rating and issued a $91.00 price objective on shares of Varian Medical Systems in a research note on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Varian Medical Systems in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price objective on shares of Varian Medical Systems from $82.00 to $90.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Varian Medical Systems currently has an average rating of “Hold” and an average price target of $93.54.

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In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 26,092 shares of Varian Medical Systems stock in a transaction dated Tuesday, June 20th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 56,573 shares of Varian Medical Systems stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $99.76, for a total transaction of $5,643,722.48. Following the completion of the sale, the executive vice president now directly owns 32,737 shares in the company, valued at approximately $3,265,843.12. The disclosure for this sale can be found here. Insiders have sold 127,911 shares of company stock worth $12,917,712 over the last three months. 0.91% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Varian Medical Systems by 3,169.5% in the first quarter. BlackRock Inc. now owns 7,899,768 shares of the medical equipment provider’s stock valued at $719,907,000 after buying an additional 7,658,148 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Varian Medical Systems by 318.2% in the first quarter. Wells Fargo & Company MN now owns 1,302,180 shares of the medical equipment provider’s stock valued at $118,667,000 after buying an additional 990,791 shares in the last quarter. Norges Bank bought a new stake in shares of Varian Medical Systems during the fourth quarter valued at approximately $80,996,000. FMR LLC raised its stake in shares of Varian Medical Systems by 324.5% in the first quarter. FMR LLC now owns 1,006,924 shares of the medical equipment provider’s stock valued at $91,760,000 after buying an additional 769,718 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Varian Medical Systems during the first quarter valued at approximately $32,433,000. 99.69% of the stock is currently owned by institutional investors and hedge funds.

Varian Medical Systems (NYSE:VAR) traded down 0.81% during trading on Friday, hitting $104.18. The stock had a trading volume of 467,035 shares. Varian Medical Systems has a 52 week low of $68.08 and a 52 week high of $105.30. The company has a market cap of $9.58 billion, a PE ratio of 33.62 and a beta of 0.63. The stock has a 50-day moving average price of $98.35 and a 200-day moving average price of $87.66.

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

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