VAR shares closed at $60.60 yesterday, up 6.2 percent on the day, passing a high-water mark of $61.15 along the way.
The surge came in response to the revelation that Siemens plans to "selectively exit" radiation therapy, disclosed by JP Morgan Chase & Co. analyst Tycho Peterson, according to Bloomberg.
"Siemens has been losing share in this market for years to both Varian and Elekta, so the news does not come as a complete surprise," Peterson wrote in a note to investors. "The exit should accelerate additional share shift and could provide upside to Street estimates."
Elekta shares also climbed yesterday, closing at SEK 284 (about $41.93), up 4.4 percent on the day.