Varian Medical Sys. (VAR) Price Target/ EPS Estimates Decreased

Analysts at Jefferies equity research maintained their BUY rating but lowered their price target on Varian Medical Sys. (NYSE: VAR). The target was decrease by $3 from $77 to $74 per share.

Varian Medical Systems provides systems for treating cancer with radiation therapy and is one of the premier suppliers of X-ray tubes for diagnostic imaging applications.

Last quarter’s revenues numbers at Varian were ahead of expectations, but EPS came in light. Guidance has been reduced due to margin pressure, reducing the FY EPS outlook 15 percent to $3.76-$3.84 from 3.94.

However, analysts are optimistic about the overall radiation oncology market, and they also think collaboration efforts with Siemens could benefit the company.

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 $69.79 yesterday.

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