Varian Medical Systems (NYSE:VAR) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Varian Medical Systems (NYSE:VAR) issued its quarterly earnings results on Tuesday. The medical equipment provider reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.14, Fidelity Earnings reports. Varian Medical Systems had a return on equity of 19.68% and a net margin of 8.82%. During the same quarter in the previous year, the company posted $1.21 earnings per share.

NYSE VAR opened at $172.28 on Friday. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 56.12 and a beta of 1.16. Varian Medical Systems has a twelve month low of $89.62 and a twelve month high of $176.19. The stock has a 50-day moving average of $172.31 and a 200 day moving average of $142.95.

A number of brokerages have commented on VAR. TheStreet raised Varian Medical Systems from a “c+” rating to a “b-” rating in a research report on Thursday, July 23rd. Barrington Research cut Varian Medical Systems from an “outperform” rating to an “underperform” rating in a research report on Wednesday. Jefferies Financial Group lifted their price target on Varian Medical Systems from $130.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. BTIG Research cut Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Monday, August 10th. Finally, UBS Group cut Varian Medical Systems from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $150.00 to $177.50 in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus price target of $145.55.

In related news, insider Kolleen T. Kennedy sold 7,344 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $173.31, for a total value of $1,272,788.64. Following the completion of the transaction, the insider now owns 33,919 shares of the company’s stock, valued at approximately $5,878,501.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kolleen T. Kennedy sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $172.01, for a total value of $68,804.00. Following the sale, the insider now owns 27,518 shares of the company’s stock, valued at $4,733,371.18. The disclosure for this sale can be found here. Insiders sold a total of 48,537 shares of company stock valued at $8,384,384 in the last ninety days. 0.78% of the stock is currently owned by insiders.

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 in Oncology Systems and Proton Solutions segments. 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 quality assurance equipment.

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Earnings History for Varian Medical Systems (NYSE:VAR)

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