Q4 2017 Earnings Estimate for Varian Medical Systems, Inc. Issued By Barrington Research (NYSE:VAR)

Varian Medical Systems, Inc. (NYSE:VAR) – Barrington Research lifted their Q4 2017 earnings estimates for shares of Varian Medical Systems in a research note issued on Thursday. Barrington Research analyst M. Petusky now anticipates that the medical equipment provider will post earnings of $1.17 per share for the quarter, up from their prior forecast of $1.12. Barrington Research currently has a “Market Perform” rating on the stock.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS.

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Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Robert W. Baird reiterated a “neutral” rating and issued a $99.00 price target (up from $89.00) on shares of Varian Medical Systems in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Aegis reiterated a “hold” rating and issued a $91.00 price target on shares of Varian Medical Systems in a research report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Varian Medical Systems in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $92.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $96.28.

Several institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. boosted its position in shares of Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Parallel Advisors LLC boosted its position in Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock worth $113,000 after buying an additional 176 shares in the last quarter. Heritage Trust Co purchased a new position in Varian Medical Systems during the first quarter worth approximately $118,000. Penserra Capital Management LLC boosted its position in Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock worth $146,000 after buying an additional 140 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 55 shares in the last quarter. 99.64% of the stock is owned by institutional investors and hedge funds.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $104.49, for a total value of $113,685.12. Following the completion of the transaction, the executive vice president now directly owns 27,688 shares of the company’s stock, valued at approximately $2,893,119.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Bostrom sold 3,589 shares of Varian Medical Systems stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $91.08, for a total transaction of $326,886.12. Following the completion of the transaction, the director now directly owns 3,809 shares of the company’s stock, valued at $346,923.72. The disclosure for this sale can be found here. Insiders sold a total of 147,676 shares of company stock valued at $14,979,214 over the last three months. Corporate insiders own 0.91% of the company’s stock.

Varian Medical Systems Company Profile

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.

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

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