In a report released today, Michael Petusky from Barrington maintained a Buy rating on Varian Medical Systems (NYSE: VAR), with a price target of $130. The company’s shares closed yesterday at $123.31.
Petusky said:
“We have now removed the assumption of the Sirtex asset from our modeling of Varian’s business. We currently expect Varian to deliver $4.45 in adjusted EPS on $2.85 billion in revenue in FY/18. This is consistent with management’s FY/18 financial guidance of $4.43-4.53 in adjusted EPS on 6-9% revenue growth. We also look for adjusted EPS to grow to $4.80 in FY/19 on $2.99 billion in revenue and expect $5.20 in adjusted EPS in FY/20 on $3.14 billion in revenue.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 15.4% and a 66.3% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Merit Medical Systems, and DENTSPLY SIRONA Inc.
Varian Medical Systems has an analyst consensus of Moderate Buy, with a price target consensus of $131.67.
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Based on Varian Medical Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $73.2 million. In comparison, last year the company earned revenue of $655 million and had a net profit of $56.1 million.
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Varian Medical Systems, Inc. engages in the manufacture of medical devices and software for treating cancer and other medical conditions. It operates through the Oncology Systems and Varian Particle Therapy segments.
