Varian Medical Posted Solid 2Q Results, Jefferies Reports (VAR)

In a recent report by Jefferies, Varian Medical VAR posted solid second quarter results. According to Jefferies, “VAR reported solid FQ2 results with revenues and EPS slightly ahead of both our and Street estimates.” Varian Medical also saw net order growth. “Total net orders came in at $681.5M, which was up nearly 15% yr/yr on as-reported basis and well ahead of consensus of ~$641M,” says Jefferies. Jefferies maintains its Buy rating and $84 price target. Varian Medical closed yesterday at $71.43.