Varian Medical Systems, Inc. (NYSE:VAR) Expected to Announce Quarterly Sales of $852.77 Million

Analysts expect that Varian Medical Systems, Inc. (NYSE:VAR) will report sales of $852.77 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Varian Medical Systems’ earnings. The lowest sales estimate is $842.60 million and the highest is $869.59 million. Varian Medical Systems posted sales of $801.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 22nd.

On average, analysts expect that Varian Medical Systems will report full year sales of $3.20 billion for the current financial year, with estimates ranging from $3.19 billion to $3.22 billion. For the next year, analysts forecast that the company will post sales of $3.51 billion, with estimates ranging from $3.44 billion to $3.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Varian Medical Systems.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. The business had revenue of $825.80 million for the quarter, compared to analysts’ expectations of $762.29 million. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.91%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share.

A number of research analysts recently issued reports on VAR shares. TheStreet cut shares of Varian Medical Systems from a “b” rating to a “c+” rating in a research note on Monday, August 5th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research report on Wednesday, July 24th. Barrington Research restated a “buy” rating and issued a $142.00 target price on shares of Varian Medical Systems in a research report on Thursday, July 25th. Zacks Investment Research lowered shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 target price on the stock. in a research report on Saturday, July 27th. Finally, Robert W. Baird set a $158.00 target price on shares of Varian Medical Systems and gave the company a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $141.22.

Shares of NYSE:VAR opened at $118.87 on Tuesday. The company’s 50 day simple moving average is $111.52 and its 200 day simple moving average is $128.85. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 3.01 and a beta of 0.87. Varian Medical Systems has a 1 year low of $101.42 and a 1 year high of $142.50.

In other news, SVP Gary E. Bischoping, Jr. sold 56,232 shares of Varian Medical Systems stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $132.56, for a total transaction of $7,454,113.92. Following the transaction, the senior vice president now owns 27,393 shares in the company, valued at $3,631,216.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John W. Kuo sold 465 shares of Varian Medical Systems stock in a transaction on Monday, June 17th. The stock was sold at an average price of $131.40, for a total transaction of $61,101.00. Following the transaction, the senior vice president now owns 35,566 shares in the company, valued at approximately $4,673,372.40. The disclosure for this sale can be found here. Insiders sold 72,063 shares of company stock worth $9,586,118 in the last 90 days. Company insiders own 0.78% of the company’s stock.

Several large investors have recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Varian Medical Systems by 7.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,574 shares of the medical equipment provider’s stock worth $11,241,000 after purchasing an additional 5,887 shares during the period. Rehmann Capital Advisory Group lifted its holdings in shares of Varian Medical Systems by 13.6% during the second quarter. Rehmann Capital Advisory Group now owns 1,773 shares of the medical equipment provider’s stock worth $241,000 after purchasing an additional 212 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Varian Medical Systems by 18.2% during the second quarter. Toronto Dominion Bank now owns 74,653 shares of the medical equipment provider’s stock worth $10,160,000 after purchasing an additional 11,498 shares during the period. Atria Investments LLC acquired a new position in Varian Medical Systems in the second quarter valued at $176,000. Finally, BlackRock Inc. lifted its holdings in Varian Medical Systems by 4.0% in the second quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock valued at $1,132,117,000 after buying an additional 319,325 shares during the period. Institutional investors own 91.31% 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.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on Varian Medical Systems (VAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.