Dougherty & Co Starts Varian Medical (VAR) at Buy

Dougherty & Co initiated coverage on Varian Medical (NYSE: VAR) with a Buy rating and a price target of $105. Analyst Charley Jones made note of the company's leadership position.

"In our opinion, VAR is one of the highest quality medical device companies in the industry with significant long-term opportunities as the leader of radiation oncology and the imaging components market. We believe radiation therapy and radiation surgery are proven, effective, and efficient and already a standard of care therapy for the treatment of many types of otherwise hard to treat or hard to access tumors. We believe VAR’s competitive position within this market is unmatched. VAR is an early leader in proton therapy, international penetration for radiation therapy systems is low, and VAR’s balance sheet and cash flow yield are amongst the more attractive in the medical device space. We believe VAR’s leadership position in quality, cost effectiveness, throughput, and innovation will continue to be a successful strategy," said Jones.

For an analyst ratings summary and ratings history on Varian Medical click here. For more ratings news on Varian Medical click here.

Shares of Varian Medical closed at $85.97 yesterday.

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