Varian Medical Systems (VAR) Issues FY19 Earnings Guidance

Varian Medical Systems (NYSE:VAR) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.60-4.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.74. The company issued revenue guidance of $3.09-3.18 billion, compared to the consensus revenue estimate of $3.12 billion.Varian Medical Systems also updated its FY 2019 guidance to $4.60-4.75 EPS.

Several analysts recently issued reports on the stock. Barrington Research upped their price objective on shares of Varian Medical Systems from $135.00 to $150.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Jefferies Financial Group upped their price objective on shares of Varian Medical Systems to $145.00 and gave the company a buy rating in a research note on Thursday, January 24th. Royal Bank of Canada upped their price objective on shares of Varian Medical Systems to $130.00 and gave the company a sector perform rating in a research note on Thursday, January 24th. Zacks Investment Research raised shares of Varian Medical Systems from a hold rating to a strong-buy rating and set a $146.00 price objective for the company in a research note on Saturday, January 26th. Finally, BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a research note on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $137.56.

NYSE VAR traded up $0.36 during trading hours on Wednesday, hitting $133.27. 964,867 shares of the company’s stock traded hands, compared to its average volume of 678,516. Varian Medical Systems has a 52-week low of $101.42 and a 52-week high of $142.50. The stock has a market cap of $12.07 billion, a PE ratio of 30.15, a P/E/G ratio of 3.46 and a beta of 0.86.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.10). Varian Medical Systems had a net margin of 12.28% and a return on equity of 26.18%. The business had revenue of $779.40 million for the quarter, compared to analysts’ expectations of $776.28 million. During the same period in the prior year, the company posted $1.15 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Varian Medical Systems will post 4.73 earnings per share for the current fiscal year.

In other Varian Medical Systems news, CAO Magnus Momsen sold 1,446 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $131.56, for a total value of $190,235.76. Following the transaction, the chief accounting officer now directly owns 1,787 shares in the company, valued at approximately $235,097.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Toth sold 1,400 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $142.50, for a total transaction of $199,500.00. Following the completion of the transaction, the senior vice president now owns 2,521 shares in the company, valued at $359,242.50. The disclosure for this sale can be found here. Insiders sold a total of 106,387 shares of company stock worth $14,602,567 over the last quarter. 0.78% of the stock is currently owned by company insiders.

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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.

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

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