Varian Medical Systems, Inc. (VAR)

Manifest (63.44) Submitted: 5/31/07 12:39 PM : Start Price: $40.08 VAR Score: 37.68

Varian reported slightly weaker results and moderated expectations going forward and the price got fried. This cancer-treatment supplier isn't slowing a great deal from 15% annualized top line growth -- just a smidge. S&P rates VAR at 91% of fair value and Morningstar is at 77%. Our projected annual return (PAR) is 18% with an excellent quality rating. The recent price action suggests that VAR is potentially over-sold.

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