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Varian Medical ProBeam-Equipped Emory Center Opens in Georgia
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Varian Medical Systems’ flagship ProBeam-equipped Emory Proton Therapy Center was recently opened in Georgia. This latest development is likely to expand the use of Varian Medical’s cancer treatment technologies like proton therapy. This also fortifies the company’s foothold in the global proton therapy market.
However, this positive development has failed to give a boost the share price trend of Varian Medical. Notably, shares of Varian Medical dipped 0.5% to $120.84 at close following the announcement.
ProBeam in Focus
Varian Medical's ProBeam system is the world's first commercially available pencil beam scanning system, which is also the most precise form of proton therapy available. It offers image-guided intensity modulated proton therapy (IMPT) to deliver more adaptive proton therapy.
The company’s ProBeam Compact Single-Room Proton Therapy Solution and Multi-Room Proton Therapy System are much in demand.
Earlier this year, the company launched its ProBeam 360° Proton Therapy System which enables clinicians to deliver doses precisely within the contours of the tumor.
It is encouraging to note that last month, ProBeam-equipped HollandPTC opened in Delft, Netherlands. Additionally, Florida-based Delray Medical Center installed Varian ProBeam Compact single-room proton therapy system in September. (Read More: Varian's ProBeam System Gets Picked by Delray Medical)
Earlier in 2018, Varian Medical’s ProBeam cyclotron was installed at University College Hospitals London NHS Foundation Trust’s proton beam therapy center in the United Kingdom. (Read More: Varian Medical's ProBeam Platform Gains Foothold in UK)
Market Prospects
MarketWatch believes that the global proton therapy market will see a CAGR of 15% during 2018 to 2023. The report further states that the U.S. proton therapy market is likely to exhibit a CAGR of more than 15% by 2025.
Rise in the incidence of cancer and a growing aging populace currently drive the market.
Hence, Varian Medical’s latest developments have been well-timed ones.
Share Price Performance
Over the past year, the stock has rallied 7.5% compared with the industry’s 10.6% rise and the S&P 500 index’s 1% decline.
Zacks Rank & Key Picks
Varian Medical currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR - Free Report) , OPKO Health, Inc. (OPK - Free Report) and Surmodics (SRDX - Free Report) .
OPKO Health’s long-term earnings growth rate is projected at 12%. The stock carries a Zacks Rank of 2.
Surmodics’ long-term earnings growth rate is estimated at 10%. The stock carries a Zacks Rank #2.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Varian Medical ProBeam-Equipped Emory Center Opens in Georgia
Varian Medical Systems’ flagship ProBeam-equipped Emory Proton Therapy Center was recently opened in Georgia. This latest development is likely to expand the use of Varian Medical’s cancer treatment technologies like proton therapy. This also fortifies the company’s foothold in the global proton therapy market.
However, this positive development has failed to give a boost the share price trend of Varian Medical. Notably, shares of Varian Medical dipped 0.5% to $120.84 at close following the announcement.
ProBeam in Focus
Varian Medical's ProBeam system is the world's first commercially available pencil beam scanning system, which is also the most precise form of proton therapy available. It offers image-guided intensity modulated proton therapy (IMPT) to deliver more adaptive proton therapy.
The company’s ProBeam Compact Single-Room Proton Therapy Solution and Multi-Room Proton Therapy System are much in demand.
Earlier this year, the company launched its ProBeam 360° Proton Therapy System which enables clinicians to deliver doses precisely within the contours of the tumor.
It is encouraging to note that last month, ProBeam-equipped HollandPTC opened in Delft, Netherlands. Additionally, Florida-based Delray Medical Center installed Varian ProBeam Compact single-room proton therapy system in September. (Read More: Varian's ProBeam System Gets Picked by Delray Medical)
Earlier in 2018, Varian Medical’s ProBeam cyclotron was installed at University College Hospitals London NHS Foundation Trust’s proton beam therapy center in the United Kingdom. (Read More: Varian Medical's ProBeam Platform Gains Foothold in UK)
Market Prospects
MarketWatch believes that the global proton therapy market will see a CAGR of 15% during 2018 to 2023. The report further states that the U.S. proton therapy market is likely to exhibit a CAGR of more than 15% by 2025.
Rise in the incidence of cancer and a growing aging populace currently drive the market.
Hence, Varian Medical’s latest developments have been well-timed ones.
Share Price Performance
Over the past year, the stock has rallied 7.5% compared with the industry’s 10.6% rise and the S&P 500 index’s 1% decline.
Zacks Rank & Key Picks
Varian Medical currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR - Free Report) , OPKO Health, Inc. (OPK - Free Report) and Surmodics (SRDX - Free Report) .
Integer Holdings has an earnings growth rate of 31.2% for the next quarter and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
OPKO Health’s long-term earnings growth rate is projected at 12%. The stock carries a Zacks Rank of 2.
Surmodics’ long-term earnings growth rate is estimated at 10%. The stock carries a Zacks Rank #2.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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