Varian Medical Systems (VAR) Releases FY18 Earnings Guidance

Varian Medical Systems (NYSE:VAR) updated its FY18 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of ~$4.05-4.17 for the period, compared to the Thomson Reuters consensus estimate of $4.30. The company issued revenue guidance of +3-5% to ~$2.78-2.8 billion, compared to the consensus revenue estimate of $2.76 billion.

A number of research firms have weighed in on VAR. BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Evercore ISI began coverage on Varian Medical Systems in a report on Wednesday, January 3rd. They set an underperform rating and a $100.00 target price for the company. Citigroup lifted their target price on Varian Medical Systems from $119.00 to $121.00 and gave the company a neutral rating in a report on Monday, October 30th. Royal Bank of Canada set a $105.00 target price on Varian Medical Systems and gave the company a hold rating in a report on Thursday, November 30th. Finally, Zacks Investment Research lowered Varian Medical Systems from a hold rating to a sell rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $100.44.

Varian Medical Systems (NYSE:VAR) opened at $108.49 on Friday. Varian Medical Systems has a twelve month low of $75.54 and a twelve month high of $114.09. The company has a market capitalization of $9,939.53, a PE ratio of 28.78, a PEG ratio of 3.19 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The business had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $741.69 million. During the same period in the previous year, the firm posted $1.03 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. analysts anticipate that Varian Medical Systems will post 4.11 earnings per share for the current fiscal year.

In related news, EVP Kolleen T. Kennedy sold 931 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $105.00, for a total value of $97,755.00. Following the completion of the sale, the executive vice president now owns 27,531 shares in the company, valued at approximately $2,890,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy E. Guertin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $111.46, for a total value of $1,114,600.00. Following the completion of the sale, the director now owns 2,161 shares of the company’s stock, valued at approximately $240,865.06. The disclosure for this sale can be found here. Insiders have sold 111,727 shares of company stock valued at $12,392,515 in the last three months. 0.78% of the stock is owned by insiders.

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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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