Stock News in Focus: Varian (NYSE: VAR)

Varian (NYSE: VAR) changed 1.42% to recent value of $127.84. The stock transacted 690637 shares during most recent day however it has an average volume of 862.49K shares. It spotted trading -1.88% off 52-week high price. On the other end, the stock has been noted 26.05% away from the low price over the last 52-weeks.

Varian (NYSE: VAR) reported the installation of the gantry for the Varian ProBeam® Compact single-room proton therapy system at the new oncology center at Biopolis, an international biomedical research hub in Singapore. The gantry is a core piece of equipment of the ProBeam proton therapy system, and its installation is a key milestone for every new proton therapy center. Varian is partnering with Proton Therapy Pte., Ltd. for the installation. Varian will also provide its Eclipse™ treatment planning system training environment for use by Proton Therapy Pte., Ltd. at its new Advanced Medicine Training Centre.

The Varian ProBeam Compact system is a single-room system equipped with a 360-degree gantry for intensity modulated proton therapy (IMPT). The ProBeam system also consists of a superconducting cyclotron, and high-speed pencil-beam scanning. The system’s integrated cone beam CT provides accurate patient positioning based on high quality anatomical images with excellent soft tissue resolution. The system can also provide clinicians a viable path to potential next-generation treatments such as Flash therapy. In combination with ARIA® oncology information system and Eclipse™ treatment planning system, the ProBeam system enables an efficient adaptive workflow.

“We are pleased to have achieved this important milestone in the construction of this new oncology center in Singapore,” said Kolleen Kennedy, president, Proton Solutions and chief growth officer, Varian. “We look forward to the continuing partnership with Proton Therapy Pte to complete the construction and equipment installation for the first Compact proton system in Southeast Asia and expand access to this advanced cancer treatment technology in the region.”

“It is exciting to see the installation of the ProBeam gantry and realize we are yet another step closer to making this cancer treatment technology available to many more patients,” said Dr. Djeng Shih Kien, chairman, Proton Therapy Pte., Ltd. “Once operational, this new oncology center will be able to offer highly precise proton therapy treatment and have the opportunity to positively impact many patient lives.”

 VAR has a gross margin of 43.60% and an operating margin of 15.10% while its profit margin remained 5.10% for the last 12 months. Its earnings per share (EPS) expected to touch remained 60.00% for this year while earning per share for the next 5-years is expected to reach at 7.80%.

 The company has 91.2M of outstanding shares and 90.94M shares were floated in the market. According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 9.06% from the mean of 20 days, 8.01% from mean of 50 days SMA and performed 10.17% from mean of 200 days price. Company’s performance for the week was 1.74%, 10.69% for month and YTD performance remained 12.82%.

Leave a Reply

Your email address will not be published. Required fields are marked *