Trading Report: The Jefferies Group Analysts Reduce Earnings Estimates for Varian Medical Systems Inc. (VAR)

The Jefferies Group Analysts Reduce Earnings Estimates for Varian Medical Systems Inc. (VAR)

Varian Medical Systems Inc. (NYSE:VAR) – Stock analysts at Jefferies Group lowered their Q1 2017 earnings per share estimates for Varian Medical Systems in a research note issued to investors on Thursday. Jefferies Group analyst A. Petrone now expects that the firm will post earnings per share of $1.04 for the quarter, down from their previous forecast of $1.11. Jefferies Group currently has a “Buy” rating and a $98.00 target price on the stock. Jefferies Group also issued estimates for Varian Medical Systems’ Q2 2017 earnings at $1.18 EPS, Q3 2017 earnings at $1.33 EPS, Q4 2017 earnings at $1.56 EPS, FY2017 earnings at $5.10 EPS, Q1 2018 earnings at $1.19 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.65 EPS, FY2018 earnings at $5.59 EPS and FY2020 earnings at $6.85 EPS.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. The company had revenue of $912 million for the quarter, compared to analyst estimates of $880.29 million. Varian Medical Systems had a net margin of 12.51% and a return on equity of 26.57%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 EPS.

VAR has been the subject of a number of other research reports. Brean Capital increased their target price on shares of Varian Medical Systems from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Citigroup Inc. increased their target price on shares of Varian Medical Systems from $84.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, July 28th. Morgan Stanley increased their target price on shares of Varian Medical Systems from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. Barrington Research cut their target price on shares of Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $93.38.

Shares of Varian Medical Systems (NYSE:VAR) opened at 90.09 on Monday. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 21.50 and a beta of 0.71. Varian Medical Systems has a one year low of $73.18 and a one year high of $106.70. The company’s 50 day moving average is $96.83 and its 200 day moving average is $89.44.

In related news, SVP John W. Kuo sold 4,073 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $95.47, for a total value of $388,849.31. Following the sale, the senior vice president now directly owns 28,100 shares of the company’s stock, valued at $2,682,707. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dow R. Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $95.14, for a total transaction of $951,400.00. Following the completion of the sale, the insider now directly owns 70,598 shares in the company, valued at $6,716,693.72. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Feltz Wealth PLAN Inc. bought a new stake in shares of Varian Medical Systems during the second quarter worth $115,000. Invictus RG bought a new stake in shares of Varian Medical Systems during the first quarter worth $132,000. Global X Management Co. LLC increased its stake in shares of Varian Medical Systems by 143.0% in the second quarter. Global X Management Co. LLC now owns 1,662 shares of the company’s stock worth $137,000 after buying an additional 978 shares in the last quarter. Advisor Group Inc. bought a new stake in shares of Varian Medical Systems during the second quarter worth $146,000. Finally, Pacer Advisors Inc. increased its stake in shares of Varian Medical Systems by 8.7% in the second quarter. Pacer Advisors Inc. now owns 1,780 shares of the company’s stock worth $146,000 after buying an additional 143 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.

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