Viewray Inc (VRAY) Receives $11.90 Consensus Price Target from Brokerages

Viewray Inc (NASDAQ:VRAY) has been given an average rating of “Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.90.

VRAY has been the topic of a number of analyst reports. B. Riley initiated coverage on shares of Viewray in a report on Thursday, February 8th. They set a “buy” rating and a $13.50 target price on the stock. Mizuho reaffirmed a “buy” rating and set a $12.00 target price on shares of Viewray in a report on Thursday, April 19th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $13.00 target price on shares of Viewray in a report on Friday, May 11th. ValuEngine raised shares of Viewray from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, BidaskClub raised shares of Viewray from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd.

In related news, insider James F. Dempsey sold 75,243 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $7.57, for a total transaction of $569,589.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 62.81% of the company’s stock.

A number of institutional investors have recently bought and sold shares of VRAY. Fosun International Ltd increased its holdings in Viewray by 61.2% during the 1st quarter. Fosun International Ltd now owns 10,767,975 shares of the company’s stock worth $69,239,000 after acquiring an additional 4,090,000 shares during the period. Park West Asset Management LLC purchased a new position in Viewray in the 4th quarter worth approximately $24,217,000. Sectoral Asset Management Inc purchased a new position in Viewray in the 4th quarter worth approximately $8,772,000. Citadel Advisors LLC grew its stake in Viewray by 2,115.4% in the 4th quarter. Citadel Advisors LLC now owns 669,054 shares of the company’s stock worth $6,195,000 after buying an additional 638,854 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in Viewray in the 4th quarter worth approximately $4,463,000. 83.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of Viewray traded down $0.11, hitting $6.95, during midday trading on Monday, according to MarketBeat Ratings. The company’s stock had a trading volume of 9,580 shares, compared to its average volume of 611,836. Viewray has a one year low of $4.40 and a one year high of $10.64. The company has a quick ratio of 3.04, a current ratio of 3.79 and a debt-to-equity ratio of 0.77. The firm has a market cap of $507.95 million, a P/E ratio of -6.74 and a beta of 0.59.

Viewray (NASDAQ:VRAY) last posted its quarterly earnings results on Thursday, May 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.09. The company had revenue of $26.19 million for the quarter, compared to analyst estimates of $15.50 million. Viewray had a negative net margin of 83.09% and a negative return on equity of 1,375.57%. The company’s quarterly revenue was up 2029.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. equities analysts expect that Viewray will post -0.66 EPS for the current year.

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.

Analyst Recommendations for Viewray (NASDAQ:VRAY)

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