Varian Medical Systems (NYSE:VAR) issued its quarterly earnings data on Wednesday, April 25th. The medical equipment provider reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.11, Bloomberg Earnings reports. The business had revenue of $729.90 million during the quarter, compared to analysts’ expectations of $685.86 million. Varian Medical Systems had a return on equity of 27.99% and a net margin of 4.77%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. Varian Medical Systems updated its FY18 guidance to $4.43-4.53 EPS.
Shares of Varian Medical Systems stock traded up $0.03 during mid-day trading on Friday, reaching $118.30. 7,524 shares of the stock traded hands, compared to its average volume of 762,237. Varian Medical Systems has a fifty-two week low of $117.14 and a fifty-two week high of $117.89. The stock has a market capitalization of $10.79 billion, a P/E ratio of 32.73, a PEG ratio of 3.28 and a beta of 0.85.
In other Varian Medical Systems news, SVP John W. Kuo sold 1,327 shares of the stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $117.15, for a total transaction of $155,458.05. Following the completion of the transaction, the senior vice president now owns 30,551 shares of the company’s stock, valued at $3,579,049.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kolleen T. Kennedy sold 699 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $118.20, for a total value of $82,621.80. Following the transaction, the executive vice president now directly owns 27,555 shares of the company’s stock, valued at approximately $3,257,001. The disclosure for this sale can be found here. Insiders have sold 39,239 shares of company stock valued at $4,696,712 in the last three months. Insiders own 0.78% of the company’s stock.
About Varian Medical Systems
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 Varian Particle Therapy. The Oncology Systems segment provides 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.
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