Varian Medical Systems Inc.’s first-quarter fiscal 2019 results are scheduled to release on Jan 23, after market close.
A strong overseas presence and product launches are likely to favor the company’s fiscal first-quarter results.
Last-Quarter Results
In the last reported quarter, Varian Medical’s adjusted earnings of $1.16 per share missed the Zacks Consensus Estimate of $1.19. Adjusted earnings however improved 11.5% on a year-over-year basis.
Revenues totaled $801.6 million, which beat the consensus mark of $762.7 million. On a year-over-year basis, revenues rose 11.1% or 12% at constant currency.
Which Way Are Estimates Treading?
Currently, the Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $717.9 million, reflecting a rise of 5.8%. The same for adjusted earnings is pinned at $1.06.
Let’s discuss the factors that are likely to impact Varian Medical’s upcoming quarterly results.
Strong International Presence
Varian Medical enjoys a significant global presence.
Last November, the company’s coveted Halcyon system has been approved by the China National Medical Product Administration. (Read More: Varian Medical's Halcyon Gets NMPA Approval in China)
In October, Varian Medical’s Advanced Radiotherapy Clinical School will run courses at India-based Reliance Group's flagship Kokilaben Dhirubhai Ambani Hospital (KDAH) in Mumbai. (Read More: Varian & Reliance Group Tie Up to Enhance Cancer Care)
In September, the company collaborated with Kenya’s Mediheal Group of Hospitals to expand radiotherapy access in the country. (Read More: Varian Up on Tie-Up With Kenya's Mediheal Group of Hospitals)
Product Launches
Last October, Varian Medical announced a new single-room proton therapy system, ProBeam 360°, which enables efficient Intensity Modulated Proton Therapy and faster treatment by minimizing patient repositioning and re-imaging.
Additionally, the company launched Bravos system for High Dose Rate (HDR) brachytherapy treatments, a result of five years of in-clinic research. Notably, the system is designed to improve patient and clinic experience by simplifying brachytherapy treatment.
Reflective of these factors, Varian Medical has issued a solid fiscal 2019 guidance, with revenue growth expected in the range of $3.06-$3.15 billion, reflecting 5-8% growth year over year. The Zacks Consensus Estimate for revenues is pegged at $3.10 billion, within the guided range.
Adjusted earnings per share are projected in the range of $4.60-$4.75. The Zacks Consensus Estimate for earnings is pegged at $4.96, within the range.
Earnings Whispers
Per our proven model, a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to deliver a positive earnings surprise. This is not the case here as you will see below.
Earnings ESP: Varian Medical has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Varian Medical carries a Zacks Rank #3. Please note that we caution against stocks with a Zacks Rank #4 (Sell) or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revision.
Stocks Worth a Look
Here are a few medical stocks worth considering as they have the right combination of elements to post an earnings beat this quarter.
PerkinElmer has an Earnings ESP of +0.77% and a Zacks Rank #3.
Baxter International (BAX - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #3.
DexCom (DXCM - Free Report) has an Earnings ESP of +23.03% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Varian Medical Systems Inc.’s first-quarter fiscal 2019 results are scheduled to release on Jan 23, after market close.
A strong overseas presence and product launches are likely to favor the company’s fiscal first-quarter results.
Last-Quarter Results
In the last reported quarter, Varian Medical’s adjusted earnings of $1.16 per share missed the Zacks Consensus Estimate of $1.19. Adjusted earnings however improved 11.5% on a year-over-year basis.
Revenues totaled $801.6 million, which beat the consensus mark of $762.7 million. On a year-over-year basis, revenues rose 11.1% or 12% at constant currency.
Which Way Are Estimates Treading?
Currently, the Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $717.9 million, reflecting a rise of 5.8%. The same for adjusted earnings is pinned at $1.06.
Let’s discuss the factors that are likely to impact Varian Medical’s upcoming quarterly results.
Strong International Presence
Varian Medical enjoys a significant global presence.
Last November, the company’s coveted Halcyon system has been approved by the China National Medical Product Administration. (Read More: Varian Medical's Halcyon Gets NMPA Approval in China)
In October, Varian Medical’s Advanced Radiotherapy Clinical School will run courses at India-based Reliance Group's flagship Kokilaben Dhirubhai Ambani Hospital (KDAH) in Mumbai. (Read More: Varian & Reliance Group Tie Up to Enhance Cancer Care)
In September, the company collaborated with Kenya’s Mediheal Group of Hospitals to expand radiotherapy access in the country. (Read More: Varian Up on Tie-Up With Kenya's Mediheal Group of Hospitals)
Product Launches
Last October, Varian Medical announced a new single-room proton therapy system, ProBeam 360°, which enables efficient Intensity Modulated Proton Therapy and faster treatment by minimizing patient repositioning and re-imaging.
Additionally, the company launched Bravos system for High Dose Rate (HDR) brachytherapy treatments, a result of five years of in-clinic research. Notably, the system is designed to improve patient and clinic experience by simplifying brachytherapy treatment.
Reflective of these factors, Varian Medical has issued a solid fiscal 2019 guidance, with revenue growth expected in the range of $3.06-$3.15 billion, reflecting 5-8% growth year over year. The Zacks Consensus Estimate for revenues is pegged at $3.10 billion, within the guided range.
Adjusted earnings per share are projected in the range of $4.60-$4.75. The Zacks Consensus Estimate for earnings is pegged at $4.96, within the range.
Earnings Whispers
Per our proven model, a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to deliver a positive earnings surprise. This is not the case here as you will see below.
Earnings ESP: Varian Medical has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Varian Medical carries a Zacks Rank #3. Please note that we caution against stocks with a Zacks Rank #4 (Sell) or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revision.
Stocks Worth a Look
Here are a few medical stocks worth considering as they have the right combination of elements to post an earnings beat this quarter.
PerkinElmer has an Earnings ESP of +0.77% and a Zacks Rank #3.
Baxter International (BAX - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #3.
DexCom (DXCM - Free Report) has an Earnings ESP of +23.03% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on BAX - FREE
Get the latest research report on DXCM - FREE