Viewray Inc to Post Q3 2019 Earnings of ($0.23) Per Share, B. Riley Forecasts (NASDAQ:VRAY)

Viewray Inc (NASDAQ:VRAY) – Stock analysts at B. Riley boosted their Q3 2019 earnings estimates for shares of Viewray in a research note issued on Wednesday, October 16th. B. Riley analyst A. D’silva now anticipates that the company will earn ($0.23) per share for the quarter, up from their prior forecast of ($0.28). B. Riley also issued estimates for Viewray’s FY2019 earnings at ($1.15) EPS.

Several other research analysts have also issued reports on VRAY. Piper Jaffray Companies set a $6.00 target price on shares of Viewray and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Zacks Investment Research raised shares of Viewray from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Saturday. Northland Securities reissued a “buy” rating and set a $5.00 target price on shares of Viewray in a research note on Monday, August 19th. Cantor Fitzgerald set a $6.00 target price on shares of Viewray and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, ValuEngine raised shares of Viewray from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Viewray presently has a consensus rating of “Buy” and an average price target of $7.30.

Shares of NASDAQ VRAY opened at $2.47 on Monday. The firm has a market cap of $248.17 million, a PE ratio of -2.52 and a beta of 1.02. Viewray has a 12-month low of $2.12 and a 12-month high of $9.76. The company’s fifty day simple moving average is $3.12 and its 200 day simple moving average is $6.52. The company has a quick ratio of 3.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.55.

Viewray (NASDAQ:VRAY) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 return on equity of 67.02% and a negative net margin of 128.13%. The firm’s revenue was up 83.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRAY. Park West Asset Management LLC raised its holdings in Viewray by 87.3% during the second quarter. Park West Asset Management LLC now owns 7,615,325 shares of the company’s stock worth $67,091,000 after buying an additional 3,549,255 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of Viewray by 13.5% in the second quarter. Perceptive Advisors LLC now owns 5,455,243 shares of the company’s stock valued at $48,061,000 after purchasing an additional 649,593 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Viewray by 204.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 713,178 shares of the company’s stock valued at $6,283,000 after purchasing an additional 478,819 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of Viewray by 35.0% in the second quarter. Granite Investment Partners LLC now owns 1,428,821 shares of the company’s stock valued at $12,588,000 after purchasing an additional 370,667 shares during the last quarter. Finally, Asymmetry Capital Management L.P. raised its holdings in shares of Viewray by 431.0% in the second quarter. Asymmetry Capital Management L.P. now owns 443,973 shares of the company’s stock valued at $3,911,000 after purchasing an additional 360,362 shares during the last quarter.

In other Viewray news, CEO Scott William Drake acquired 131,260 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $3.81 per share, for a total transaction of $500,100.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James F. Dempsey sold 21,615 shares of the company’s 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 disclosure for this sale can be found here. Corporate insiders own 15.48% of the company’s stock.

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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Earnings History and Estimates for Viewray (NASDAQ:VRAY)

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