Analysts expect Varian Medical Systems, Inc. (NYSE:VAR) to post $1.16 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The lowest EPS estimate is $1.14 and the highest is $1.19. Varian Medical Systems posted earnings per share of $1.15 during the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The business is expected to report its next earnings results after the market closes on Wednesday, April 24th.

On average, analysts expect that Varian Medical Systems will report full-year earnings of $4.70 per share for the current fiscal year, with EPS estimates ranging from $4.67 to $4.74. For the next fiscal year, analysts forecast that the company will report earnings of $5.21 per share, with EPS estimates ranging from $5.05 to $5.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). Varian Medical Systems had a net margin of 12.28% and a return on equity of 26.18%. The firm had revenue of $741.00 million during the quarter, compared to the consensus estimate of $717.83 million. During the same quarter in the prior year, the business posted $1.06 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 target price for the company in a research note on Saturday, January 26th. Barrington Research restated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a report on Thursday, January 24th. Royal Bank of Canada boosted their price target on shares of Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Finally, Jefferies Financial Group boosted their price target on shares of Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a report on Thursday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $130.63.

Shares of NYSE:VAR traded up $0.70 during trading on Friday, reaching $137.01. The stock had a trading volume of 3,474 shares, compared to its average volume of 704,714. Varian Medical Systems has a one year low of $101.42 and a one year high of $137.67. The stock has a market capitalization of $12.35 billion, a P/E ratio of 30.99, a P/E/G ratio of 3.60 and a beta of 0.85.

In other Varian Medical Systems news, CFO Gary E. Bischoping, Jr. sold 300 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $131.69, for a total value of $39,507.00. Following the transaction, the chief financial officer now owns 1,916 shares of the company’s stock, valued at $252,318.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kolleen T. Kennedy sold 1,243 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $132.96, for a total transaction of $165,269.28. Following the sale, the insider now owns 27,441 shares in the company, valued at $3,648,555.36. The disclosure for this sale can be found here. Insiders sold 47,466 shares of company stock worth $6,105,577 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of VAR. Pearl River Capital LLC purchased a new stake in Varian Medical Systems during the fourth quarter worth about $28,000. First Personal Financial Services increased its stake in shares of Varian Medical Systems by 58.8% during the fourth quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 130 shares during the period. Global Retirement Partners LLC increased its stake in shares of Varian Medical Systems by 121.9% during the fourth quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 195 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Varian Medical Systems during the fourth quarter worth approximately $49,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Varian Medical Systems during the fourth quarter worth approximately $49,000. Institutional investors own 91.95% 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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