Wall Street brokerages expect Varian Medical Systems, Inc. (NYSE:VAR) to announce sales of $693.86 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Varian Medical Systems’ earnings. The highest sales estimate is $715.30 million and the lowest is $674.20 million. Varian Medical Systems posted sales of $655.00 million in the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The business is expected to announce its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Varian Medical Systems will report full year sales of $693.86 million for the current fiscal year, with estimates ranging from $2.76 billion to $2.80 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.92 billion per share, with estimates ranging from $2.86 billion to $2.98 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Varian Medical Systems.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.00 by $0.06. The company had revenue of $678.50 million for the quarter, compared to the consensus estimate of $633.96 million. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS.
In other news, EVP Kolleen T. Kennedy sold 2,021 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $107.36, for a total value of $216,974.56. Following the completion of the sale, the executive vice president now owns 27,595 shares of the company’s stock, valued at approximately $2,962,599.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark R. Laret sold 2,161 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $126.97, for a total transaction of $274,382.17. The disclosure for this sale can be found here. Insiders sold a total of 139,842 shares of company stock worth $15,923,110 over the last 90 days. Insiders own 0.78% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. WASHINGTON TRUST Co lifted its position in shares of Varian Medical Systems by 100.0% in the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 485 shares during the period. Advisory Services Network LLC lifted its position in shares of Varian Medical Systems by 3,418.8% in the 4th quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after purchasing an additional 1,641 shares during the period. MUFG Americas Holdings Corp lifted its position in shares of Varian Medical Systems by 45.2% in the 4th quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock worth $190,000 after purchasing an additional 533 shares during the period. Catawba Capital Management VA purchased a new stake in shares of Varian Medical Systems in the 4th quarter worth approximately $210,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Varian Medical Systems in the 3rd quarter worth approximately $219,000. 99.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Varian Medical Systems (VAR) traded up $1.68 during trading hours on Wednesday, reaching $114.50. 928,122 shares of the company traded hands, compared to its average volume of 1,081,863. The company has a market cap of $10,300.50, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 3.27 and a beta of 0.81. Varian Medical Systems has a one year low of $79.02 and a one year high of $130.29.
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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