Varian Medical Systems (NYSE:VAR) Issues FY18 Earnings Guidance

Varian Medical Systems (NYSE:VAR) updated its FY18 earnings guidance on Friday. The company provided earnings per share guidance of ~$4.05-4.17 for the period, compared to the Thomson Reuters consensus earnings per share 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 brokerages recently commented on VAR. Royal Bank of Canada set a $105.00 target price on shares of Varian Medical Systems and gave the stock a hold rating in a research report on Thursday, November 30th. BTIG Research restated a hold rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Evercore ISI initiated coverage on shares of Varian Medical Systems in a research report on Wednesday, January 3rd. They issued an underperform rating and a $100.00 price objective on the stock. Citigroup boosted their price objective on shares of Varian Medical Systems from $119.00 to $121.00 and gave the company a neutral rating in a research report on Monday, October 30th. Finally, Zacks Investment Research cut shares of Varian Medical Systems from a hold rating to a sell rating in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $100.44.

Varian Medical Systems (NYSE VAR) opened at $110.32 on Friday. Varian Medical Systems has a 52-week low of $75.54 and a 52-week high of $114.09. The stock has a market cap of $10,107.19, a PE ratio of 29.26, a P/E/G ratio of 3.36 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the 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 the consensus estimate of $741.69 million. During the same period in the previous year, the firm earned $1.03 EPS. The company’s revenue was down 1.1% on a year-over-year basis. analysts expect that Varian Medical Systems will post 4.11 earnings per share for the current fiscal year.

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 transaction, the executive vice president now owns 27,595 shares in the company, valued at $2,962,599.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dow R. Wilson sold 88,766 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $111.00, for a total transaction of $9,853,026.00. Following the completion of the transaction, the insider now owns 155,542 shares in the company, valued at approximately $17,265,162. The disclosure for this sale can be found here. Insiders have sold 113,681 shares of company stock worth $12,607,207 in the last three months. 0.78% of the stock is currently 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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