ValuEngine Lowers Viewray (NASDAQ:VRAY) to Hold

ValuEngine lowered shares of Viewray (NASDAQ:VRAY) from a buy rating to a hold rating in a report issued on Saturday, ValuEngine reports.

A number of other research analysts also recently issued reports on VRAY. Mizuho reissued a buy rating and issued a $12.00 price target on shares of Viewray in a report on Wednesday, July 17th. Cantor Fitzgerald set a $13.00 price target on Viewray and gave the company a buy rating in a report on Tuesday, May 28th. Piper Jaffray Companies initiated coverage on Viewray in a report on Tuesday, June 18th. They issued an overweight rating and a $15.00 price target for the company. Jefferies Financial Group decreased their price target on Viewray from $14.00 to $7.00 and set a buy rating for the company in a report on Friday, August 9th. Finally, TheStreet downgraded Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $11.95.

Shares of NASDAQ:VRAY opened at $4.01 on Friday. Viewray has a 12-month low of $2.76 and a 12-month high of $10.73. The firm has a market capitalization of $305.29 million, a P/E ratio of -4.09 and a beta of 0.79. The firm has a 50 day moving average of $8.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.28 and a quick ratio of 3.21.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.09). Viewray had a negative net margin of 128.13% and a negative return on equity of 62.98%. The company had revenue of $30.17 million during the quarter, compared to analyst estimates of $25.92 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The company’s revenue was up 83.5% compared to the same quarter last year. On average, equities research analysts anticipate that Viewray will post -1.01 EPS for the current year.

In other Viewray news, CEO Scott William Drake bought 131,260 shares of Viewray stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $3.81 per share, with a total value of $500,100.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James F. Dempsey sold 5,146 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $8.63, for a total value of $44,409.98. The disclosure for this sale can be found here. Corporate insiders own 15.48% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Viewray by 4,390.1% during the 2nd quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock worth $52,000 after buying an additional 5,751 shares during the period. Cutler Group LP acquired a new position in Viewray in the 1st quarter valued at $76,000. BNP Paribas Arbitrage SA raised its stake in Viewray by 57,004.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 13,134 shares of the company’s stock valued at $97,000 after purchasing an additional 13,111 shares during the last quarter. Bray Capital Advisors acquired a new position in Viewray in the 1st quarter valued at $104,000. Finally, Stephens Inc. AR acquired a new position in Viewray in the 1st quarter valued at $117,000.

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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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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