Brokerages expect that Viewray Inc (NASDAQ:VRAY) will announce $14.34 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Viewray’s earnings, with the highest sales estimate coming in at $16.05 million and the lowest estimate coming in at $12.60 million. Viewray reported sales of $700,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 1,948.6%. The firm is scheduled to issue its next earnings report on Monday, November 12th.
According to Zacks, analysts expect that Viewray will report full year sales of $86.48 million for the current financial year, with estimates ranging from $84.80 million to $88.53 million. For the next fiscal year, analysts forecast that the firm will post sales of $143.94 million per share, with estimates ranging from $127.80 million to $159.67 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Viewray.
Viewray (NASDAQ:VRAY) last announced its quarterly earnings data on Friday, August 3rd. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.09). Viewray had a negative net margin of 83.84% and a negative return on equity of 353.05%. The business had revenue of $16.44 million during the quarter, compared to analyst estimates of $15.97 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 2255.3% on a year-over-year basis.
Several equities analysts recently weighed in on VRAY shares. Mizuho restated a “buy” rating and issued a $12.00 price objective on shares of Viewray in a report on Thursday, April 19th. BTIG Research restated a “buy” rating and issued a $14.00 price objective on shares of Viewray in a report on Tuesday, August 7th. ValuEngine upgraded shares of Viewray from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Jefferies Financial Group started coverage on shares of Viewray in a report on Tuesday, July 3rd. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $13.00 price objective on shares of Viewray in a report on Friday, May 11th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Viewray has a consensus rating of “Buy” and a consensus target price of $12.58.
In other Viewray news, insider Fmr Llc sold 258,565 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $11.51, for a total value of $2,976,083.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Orbimed Advisors Llc sold 1,368,796 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $9.97, for a total transaction of $13,646,896.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,728,941 shares of company stock worth $29,286,786. Company insiders own 43.93% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Viewray by 88.5% in the fourth quarter. Bank of New York Mellon Corp now owns 205,129 shares of the company’s stock worth $1,901,000 after purchasing an additional 96,302 shares during the period. Fosun International Ltd raised its holdings in Viewray by 61.2% in the first quarter. Fosun International Ltd now owns 10,767,975 shares of the company’s stock worth $69,239,000 after purchasing an additional 4,090,000 shares during the period. BlackRock Inc. raised its holdings in Viewray by 0.4% in the first quarter. BlackRock Inc. now owns 1,859,946 shares of the company’s stock worth $11,960,000 after purchasing an additional 6,678 shares during the period. Russell Investments Group Ltd. raised its holdings in Viewray by 8.4% in the first quarter. Russell Investments Group Ltd. now owns 407,151 shares of the company’s stock worth $2,618,000 after purchasing an additional 31,416 shares during the period. Finally, Park West Asset Management LLC raised its holdings in shares of Viewray by 31.8% during the first quarter. Park West Asset Management LLC now owns 3,446,113 shares of the company’s stock worth $22,158,000 after acquiring an additional 830,898 shares during the period. Institutional investors own 84.02% of the company’s stock.
NASDAQ VRAY traded up $0.10 during trading hours on Tuesday, hitting $9.89. The company’s stock had a trading volume of 1,857,253 shares, compared to its average volume of 2,070,624. Viewray has a twelve month low of $5.11 and a twelve month high of $13.21. The company has a debt-to-equity ratio of 1.17, a quick ratio of 3.04 and a current ratio of 3.33.
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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