Stock Traders Purchase Large Volume of Put Options on Viewray (VRAY)

Viewray Inc (NASDAQ:VRAY) was the recipient of unusually large options trading activity on Monday. Traders acquired 2,000 put options on the stock. This represents an increase of approximately 1,150% compared to the typical volume of 160 put options.

VRAY has been the subject of several recent research reports. Mizuho reiterated a “buy” rating and set a $12.00 target price on shares of Viewray in a research report on Tuesday, January 9th. Cantor Fitzgerald set a $13.00 target price on shares of Viewray and gave the company a “buy” rating in a research report on Monday, January 8th. BidaskClub upgraded shares of Viewray from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. B. Riley initiated coverage on shares of Viewray in a research report on Thursday, February 8th. They set a “buy” rating and a $13.50 target price for the company. Finally, ValuEngine cut shares of Viewray from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $11.58.

In related news, insider James F. Dempsey sold 75,243 shares of the business’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 value of $569,589.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 62.81% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC acquired a new position in shares of Viewray in the 4th quarter valued at $148,000. Park West Asset Management LLC acquired a new position in shares of Viewray in the 4th quarter valued at $24,217,000. PEAK6 Investments L.P. acquired a new position in shares of Viewray in the 4th quarter valued at $148,000. Perceptive Advisors LLC acquired a new position in shares of Viewray in the 4th quarter valued at $463,000. Finally, Deutsche Bank AG grew its holdings in shares of Viewray by 137.6% in the 4th quarter. Deutsche Bank AG now owns 67,190 shares of the company’s stock valued at $622,000 after buying an additional 38,913 shares during the period. 80.80% of the stock is owned by institutional investors.

VRAY stock opened at $7.46 on Wednesday. Viewray has a fifty-two week low of $4.40 and a fifty-two week high of $10.64. The stock has a market cap of $493.87, a price-to-earnings ratio of -5.92 and a beta of 0.21. The company has a debt-to-equity ratio of 22.47, a current ratio of 2.18 and a quick ratio of 1.84.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings results on Monday, March 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.13). The firm had revenue of $19.90 million for the quarter, compared to the consensus estimate of $21.23 million. Viewray’s revenue for the quarter was up 23.6% on a year-over-year basis. sell-side analysts expect that Viewray will post -0.68 earnings per share for the current fiscal year.

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About Viewray

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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