Kahn Brothers Group Inc. DE bought a new stake in Viewray Inc (NASDAQ:VRAY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 112,500 shares of the company’s stock, valued at approximately $991,000. Viewray comprises 0.1% of Kahn Brothers Group Inc. DE’s holdings, making the stock its 26th biggest holding. Kahn Brothers Group Inc. DE owned approximately 0.12% of Viewray as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Viewray during the first quarter valued at about $3,386,000. Granite Investment Partners LLC raised its stake in shares of Viewray by 33.1% during the first quarter. Granite Investment Partners LLC now owns 1,058,154 shares of the company’s stock valued at $7,820,000 after purchasing an additional 263,128 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Viewray during the first quarter valued at about $1,844,000. Pier Capital LLC raised its stake in shares of Viewray by 31.8% during the first quarter. Pier Capital LLC now owns 884,080 shares of the company’s stock valued at $6,533,000 after purchasing an additional 213,259 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Viewray by 1,204.8% during the first quarter. Candriam Luxembourg S.C.A. now owns 132,857 shares of the company’s stock valued at $982,000 after purchasing an additional 122,675 shares in the last quarter.
A number of equities research analysts recently weighed in on the stock. TheStreet cut shares of Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. Jefferies Financial Group cut their price objective on shares of Viewray from $14.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Jaffray Companies assumed coverage on shares of Viewray in a research note on Tuesday, June 18th. They set an “overweight” rating and a $15.00 price objective on the stock. Zacks Investment Research upgraded shares of Viewray from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Morgan Stanley set a $5.00 price objective on shares of Viewray and gave the company a “hold” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $10.25.
In other Viewray news, insider James F. Dempsey sold 21,615 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $8.97, for a total value of $193,886.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott William Drake purchased 131,260 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $3.81 per share, for a total transaction of $500,100.60. The disclosure for this purchase can be found here. 15.48% of the stock is currently owned by insiders.
Viewray stock traded down $0.08 during midday trading on Tuesday, hitting $4.23. The company’s stock had a trading volume of 40,760 shares, compared to its average volume of 3,653,218. The company has a quick ratio of 3.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average price is $7.73 and its 200-day moving average price is $8.00. Viewray Inc has a 12 month low of $2.76 and a 12 month high of $10.73. The company has a market capitalization of $423.46 million, a PE ratio of -4.31 and a beta of 0.79.
Viewray (NASDAQ:VRAY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. The business had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. During the same quarter last year, the firm posted ($0.30) earnings per share. Viewray’s revenue was up 83.5% compared to the same quarter last year. As a group, equities analysts anticipate that Viewray Inc will post -1.18 EPS for the current year.
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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