Is there movement at the station?, page-18

analyst Brandon Henry weighed in on Varian Medical (NYSE: VAR) after Boston Scientific agreed to acquire BTG plc for $4.2 billion.

Henry notes this is the second asset that BSX has recently acquired that they believe could have ended up in the hands of VAR. The first asset was Augmenix.

Henry views the deal as a slight negative for VAR, although they did not expect VAR to acquire all of BTG anyway.

"With VAR being outbid by CDH Investments (CDH) for Sirtex and BSX now acquiring BTG plc., we believe there are few large radioembolization assets left for VAR to acquire," he commented. "Other smaller companies with radioembolization products in Europe include Quirem Medical (private, partnership with Terumo – QuiremSpheres product), Advanced Medical Isotope Corporation/Vivos Inc. (OTC: RDGL – Y-90 RadioGel product), and Oncosil Medical (ASX: OSL – Oncosil product).

The firm reiterated a Sector Perform rating and price target of $115.00

For an analyst ratings summary and ratings history on Varian Medical click here. For more ratings news on Varian Medical click here.

Shares of Varian Medical closed at $115.36 yesterday.