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VAR

Varian Medical

$122.99

(0.00%)

09:16
06/14/18
06/14
09:16
06/14/18
09:16

Varian Medical receives Sirtex notice that CDH-CGP proposal is 'superior'

Varian announced it received notification from Sirtex Medical on June 14, 2018 that its board has determined that the proposal from CDH Investments and China Grand Pharmaceutical and Healthcare Holdings Limited is a Superior Proposal as defined in the Scheme Implementation Deed between Sirtex and Varian. Consistent with Varian's prior announcements, Varian informed Sirtex that Varian will not be providing a counter proposal. Sirtex has consequently terminated the Varian Scheme and confirmed that it is required to pay a Reimbursement Fee of approximately A$16M to Varian. "Varian is very disciplined in its business development approach and we do not see value beyond the A$28 price per share we offered for Sirtex," said Dow Wilson, president and CEO of Varian. "While disappointed with this decision, Varian's long-term strategy has not changed. We remain focused on becoming a global leader in multi-disciplinary, integrated cancer care solutions; expanding the addressable markets that Varian can impact; and growing and creating sustainable value for our company and our shareholders."

  • 25

    Jul

VAR Varian Medical
$122.99

(0.00%)

01/25/18
01/25/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Grainger (GWW) upgraded to Outperform from Neutral at Baird with analyst David Manthey saying its strategic initiatives are gaining traction faster than expected. 2. Carter's (CRI) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying his store work and industry reads give him confidence that Carter's comps should come in above plan. 3. CenturyLink (CTL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Jonathan Atkin saying there is potential upside to the company's synergy targets, adding that he believes the new management can restructure operations to generate EBITDA growth. 4. Lowe's (LOW), Dick's Sporting (DKS), and Michaels (MIK) were upgraded to Outperform from Market Perform at Telsey Advisory. 5. Varian Medical (VAR) upgraded to Outperform from Market Perform at Barrington with analyst Michael Petusky saying he views the company's first quarter results as "strong" and believes the outlook for 2018 is likely conservative. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/18
RBCM
04/10/18
NO CHANGE
Target $115
RBCM
Sector Perform
Varian Medical product portfolio can drive further share gains, says RBC Capital
RBC Capital analyst Brandon Henry keeps his Sector Perform rating and $115 price target on Varian Medical (VAR), saying that the latest radiation oncologist survey findings were largely positive for the company. Henry notes the survey suggests "continued strong mid-single-digit market growth" and the ability for Varian's product portfolio to drive share gains for the company, even though the feedback around Halcyon and HyperArc systems was more mixed among U.S. practitioners. The analyst also contends that the survey findings imply Varian potentially benefiting from acquiring ViewRay (VRAY), as oncologists were "more positive on MR-LINAC adoption than proton therapy".
01/25/18
01/25/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Discover (DFS) downgraded to In Line from Outperform at Evercore ISI. 2. BlackRock (BLK) downgraded to Neutral from Buy at Citi with analyst William Katz saying the "revaluation thesis" is now well understood. 3. bluebird bio (BLUE) downgraded to Market Perform from Outperform at Leerink with analyst Michael Schmidt saying the company's clinical stage pipeline now is fairly valued while visibility into additional near-term sources of upside is limited. 4. Jagged Peak Energy (JAG) downgraded to Sector Perform from Outperform at RBC Capital with analyst Scott Hanold citing a tight frac service market in the Permian that lowers his projected growth outlook, saying the company is "more susceptible to frac service constraints due to its smaller scale and being a relatively newer entrant." 5. Varian Medical (VAR) downgraded to Sell from Neutral at Goldman Sachs with analyst Isaac Ro saying shares offer poor risk/reward versus MedTech peers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/25/18
BRRR
01/25/18
UPGRADE
Target $130
BRRR
Outperform
Varian Medical upgraded to Outperform from Market Perform at Barrington
Barrington analyst Michael Petusky upgraded Varian Medical Systems to Outperform with a $130 price target. The analyst views the company's Q1 results as "strong" and believes the outlook for 2018 is likely conservative.

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