Equities research analysts expect Viewray Inc (NASDAQ:VRAY) to post sales of $15.25 million for the current quarter, according to Zacks. Five analysts have issued estimates for Viewray’s earnings, with estimates ranging from $13.52 million to $18.42 million. Viewray reported sales of $17.67 million in the same quarter last year, which indicates a negative year over year growth rate of 13.7%. The business is expected to announce its next earnings results on Thursday, November 14th.
On average, analysts expect that Viewray will report full year sales of $86.30 million for the current year, with estimates ranging from $84.35 million to $88.38 million. For the next year, analysts forecast that the business will post sales of $145.74 million, with estimates ranging from $113.30 million to $175.84 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Viewray.
Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). The company had revenue of $30.17 million for the quarter, compared to the consensus estimate of $25.92 million. Viewray had a negative net margin of 128.13% and a negative return on equity of 67.02%. The firm’s revenue was up 83.5% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS.
VRAY has been the topic of several recent research reports. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Mizuho reaffirmed a “buy” rating and set a $9.00 target price on shares of Viewray in a research report on Sunday, August 11th. TheStreet cut Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. Piper Jaffray Companies initiated coverage on Viewray in a research report on Tuesday, June 18th. They set an “overweight” rating and a $15.00 target price on the stock. Finally, BidaskClub raised Viewray from a “strong sell” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Viewray presently has an average rating of “Buy” and an average price target of $11.75.
NASDAQ VRAY traded up $0.51 during midday trading on Friday, hitting $4.44. 5,509,800 shares of the company traded hands, compared to its average volume of 3,371,571. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.01 and a quick ratio of 3.21. The company has a market cap of $394.91 million, a PE ratio of -4.53 and a beta of 0.79. The company’s 50-day simple moving average is $7.99 and its 200-day simple moving average is $8.05. Viewray has a 52 week low of $2.76 and a 52 week high of $10.73.
In other news, insider James F. Dempsey sold 21,615 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $8.97, for a total transaction of $193,886.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James F. Dempsey sold 5,146 shares of the stock in a transaction on Monday, July 1st. The shares were 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.
Several institutional investors and hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Viewray by 6.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock valued at $202,000 after purchasing an additional 1,460 shares during the last quarter. Stephens Inc. AR raised its stake in Viewray by 9.6% in the 2nd quarter. Stephens Inc. AR now owns 17,420 shares of the company’s stock worth $153,000 after acquiring an additional 1,522 shares during the last quarter. Wrapmanager Inc. raised its stake in Viewray by 5.5% in the 2nd quarter. Wrapmanager Inc. now owns 34,699 shares of the company’s stock worth $306,000 after acquiring an additional 1,797 shares during the last quarter. TD Asset Management Inc. raised its stake in Viewray by 4.3% in the 1st quarter. TD Asset Management Inc. now owns 60,167 shares of the company’s stock worth $445,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Viewray by 4.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 74,440 shares of the company’s stock worth $550,000 after acquiring an additional 3,090 shares during the last quarter.
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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