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Varian's (VAR) ProBeam Compact Treats First Patient at UAB
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Varian Medical Systems, Inc. recently announced that Proton International, the first proton therapy center at The University of Alabama at Birmingham (“UAB”), has treated its first cancer patient with the Varian ProBeam Compact proton therapy system. This solidifies Varian’s foothold in the proton therapy market.
Following the release, shares of this Zacks Rank #3 (Hold) company rose 7.5% to $111.26 at close.
More on ProBeam
Varian’s flagship ProBeam 360° system offers a comprehensive and customizable solution which allows single or multi-room centers to meet clinical needs.
The ProBeam platform is a significant contributor to Varian’s Proton Therapy business, which also has a strong pipeline. The platform has seen some developments in recent times.
For instance, the South Florida Proton Therapy Institute has started treating patients on Varian’s ProBeam compact single room system. Further, Varian has been selected by China Medical University Hospital in Taiwan for the installation of a ProBeam 360° system in a single-room configuration.
Market Prospects
Per a study by Reportlinker, the global proton therapy market is projected to see a CAGR of 13.5% from 2019 to 2025. Rising incidence of cancer cases and growing demand for advanced cancer treatment therapy are the driving factors.
Hence, the latest development has been a well-timed one for Varian.
More Developments
Varian has been witnessing a slew of developments lately, which is expected to further help the company transform cancer care.
Notably, this month, Varian was selected to equip the new Ethos Personalized Adaptive Therapy Center in Arizona. Varian’s Ethos therapy provides the ability to personalize patients' radiation treatments based on their anatomy.
Furthermore, Varian’s Halcyon 2.0 treatment system has been approved by the China National Medical Products Administration allowing the company to market this cancer treatment system in the country.
That’s not all. Earlier this month, the Quebec government selected Varian Medical for an order of 12 medical linear accelerators. Notably, over the last four years, a total of 21 Varian linear accelerators have been purchased by the government.
Price Performance
Over the past year, shares of Varian have slipped 18.5% compared with the industry’s 18.7% decline.
Stryker’s long-term earnings growth is expected at 10.1%.
Accuray’s fiscal fourth-quarter earnings are expected to skyrocket 150%.
IDEXX Laboratories’ first-quarter earnings growth is projected at 6.8%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Varian's (VAR) ProBeam Compact Treats First Patient at UAB
Varian Medical Systems, Inc. recently announced that Proton International, the first proton therapy center at The University of Alabama at Birmingham (“UAB”), has treated its first cancer patient with the Varian ProBeam Compact proton therapy system. This solidifies Varian’s foothold in the proton therapy market.
Following the release, shares of this Zacks Rank #3 (Hold) company rose 7.5% to $111.26 at close.
More on ProBeam
Varian’s flagship ProBeam 360° system offers a comprehensive and customizable solution which allows single or multi-room centers to meet clinical needs.
The ProBeam platform is a significant contributor to Varian’s Proton Therapy business, which also has a strong pipeline. The platform has seen some developments in recent times.
For instance, the South Florida Proton Therapy Institute has started treating patients on Varian’s ProBeam compact single room system. Further, Varian has been selected by China Medical University Hospital in Taiwan for the installation of a ProBeam 360° system in a single-room configuration.
Market Prospects
Per a study by Reportlinker, the global proton therapy market is projected to see a CAGR of 13.5% from 2019 to 2025. Rising incidence of cancer cases and growing demand for advanced cancer treatment therapy are the driving factors.
Hence, the latest development has been a well-timed one for Varian.
More Developments
Varian has been witnessing a slew of developments lately, which is expected to further help the company transform cancer care.
Notably, this month, Varian was selected to equip the new Ethos Personalized Adaptive Therapy Center in Arizona. Varian’s Ethos therapy provides the ability to personalize patients' radiation treatments based on their anatomy.
Furthermore, Varian’s Halcyon 2.0 treatment system has been approved by the China National Medical Products Administration allowing the company to market this cancer treatment system in the country.
That’s not all. Earlier this month, the Quebec government selected Varian Medical for an order of 12 medical linear accelerators. Notably, over the last four years, a total of 21 Varian linear accelerators have been purchased by the government.
Price Performance
Over the past year, shares of Varian have slipped 18.5% compared with the industry’s 18.7% decline.
Key Picks
Some better-ranked companies in the broader medical sector include Stryker Corp. (SYK - Free Report) , Accuray Inc. (ARAY - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stryker’s long-term earnings growth is expected at 10.1%.
Accuray’s fiscal fourth-quarter earnings are expected to skyrocket 150%.
IDEXX Laboratories’ first-quarter earnings growth is projected at 6.8%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>