Viewray Inc (NASDAQ:VRAY) – Investment analysts at Zacks Investment Research lowered their FY2018 earnings per share estimates for Viewray in a research report issued to clients and investors on Tuesday. Zacks Investment Research analyst A. Dushyanth now forecasts that the company will post earnings of ($0.76) per share for the year, down from their previous forecast of ($0.64). Zacks Investment Research also issued estimates for Viewray’s FY2019 earnings at ($0.35) EPS and FY2020 earnings at ($0.13) EPS.
A number of other equities analysts have also recently issued reports on VRAY. ValuEngine cut Viewray from a “hold” rating to a “sell” rating in a report on Friday, December 1st. BidaskClub cut Viewray from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Viewray in a report on Friday, January 5th. Mizuho reiterated a “buy” rating and issued a $12.00 price objective on shares of Viewray in a report on Tuesday, January 9th. Finally, B. Riley started coverage on Viewray in a report on Thursday, February 8th. They issued a “buy” rating and a $13.50 price objective for the company. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $11.58.
Viewray stock traded down $0.20 on Thursday, hitting $6.66. The stock had a trading volume of 370,424 shares, compared to its average volume of 653,555. Viewray has a 1 year low of $4.40 and a 1 year high of $10.64. The company has a debt-to-equity ratio of 22.47, a current ratio of 2.18 and a quick ratio of 1.84. The stock has a market cap of $519.43, a PE ratio of -5.44 and a beta of 0.21.
Viewray (NASDAQ:VRAY) last posted its quarterly earnings data on Monday, March 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.13). The firm had revenue of $19.90 million during the quarter, compared to analysts’ expectations of $21.23 million. Viewray’s revenue was up 23.6% compared to the same quarter last year.
In other news, insider James F. Dempsey sold 75,243 shares of the business’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $7.57, for a total value of $569,589.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 62.81% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRAY. Nationwide Fund Advisors lifted its stake in shares of Viewray by 843.2% in the 2nd quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock valued at $107,000 after acquiring an additional 14,789 shares during the last quarter. PEAK6 Investments L.P. bought a new stake in shares of Viewray in the 4th quarter valued at about $148,000. MetLife Investment Advisors LLC bought a new stake in shares of Viewray in the 4th quarter valued at about $148,000. The Manufacturers Life Insurance Company bought a new stake in shares of Viewray in the 2nd quarter valued at about $159,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of Viewray in the 3rd quarter valued at about $164,000. 80.80% of the stock is owned by institutional investors.
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Viewray Company Profile
ViewRay, Inc designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered.
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