Varian Medical Systems (VAR) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $1.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.08. The company posted revenue of $758.80 million in the period, compared to analysts expectations of $770.49 million. The company’s revenue was down -.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.
Many Wall Street Analysts have commented on Varian Medical Systems. Shares were Reiterated by RBC Capital Mkts on Feb 17, 2016 to “Sector Perform” and Lowered the Price Target to $ 84 from a previous price target of $86 .
Varian Medical Systems opened for trading at $85 and hit $85.71 on the upside on Friday, eventually ending the session at $85.17, with a gain of 0.19% or 0.16 points. The heightened volatility saw the trading volume jump to 4,45,964 shares. Company has a market cap of $8,134 M.
In a different news, on Apr 21, 2016, Elisha W Finney (Exec VP and CFO) sold 4,000 shares at $85.95 per share price. According to the SEC, on Apr 19, 2016, Clarence R Verhoef (SVP, Finance, Corp Controller) sold 2,500 shares at $85.00 per share price. On Mar 24, 2016, Dow R Wilson (President and CEO) sold 45,650 shares at $78.86 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company is a supplier of X-ray imaging components for medical scientific and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection. The Company offers tools for fighting cancer taking X-ray images and protecting ports and borders. The Companys products include linear accelerators brachytherapy afterloaders treatment simulation and verification equipment accessories information management treatment planning and image processing software. The Companys customers include university research and community hospitals private and governmental institutions healthcare agencies doctors offices and cancer care clinics.