ViewRay, Inc. (NASDAQ:VRAY) Major Shareholder International Ltd Fosun Sells 4,300,000 Shares of Stock

ViewRay, Inc. (NASDAQ:VRAY) major shareholder International Ltd Fosun sold 4,300,000 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $5.97, for a total transaction of $25,671,000.00. Following the completion of the transaction, the insider now directly owns 2,813,834 shares of the company’s stock, valued at approximately $16,798,588.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of NASDAQ:VRAY opened at $5.76 on Friday. ViewRay, Inc. has a 52-week low of $1.88 and a 52-week high of $7.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.13 and a quick ratio of 4.24. The firm has a market cap of $931.62 million, a P/E ratio of -8.00 and a beta of 1.05. The firm has a 50-day moving average price of $5.12.

ViewRay (NASDAQ:VRAY) last released its quarterly earnings data on Thursday, May 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). ViewRay had a negative net margin of 183.76% and a negative return on equity of 69.14%. Equities research analysts anticipate that ViewRay, Inc. will post -0.68 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in VRAY. Artisan Partners Limited Partnership increased its holdings in shares of ViewRay by 23.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 18,658,583 shares of the company’s stock valued at $71,276,000 after purchasing an additional 3,563,960 shares during the last quarter. Tamarack Advisers LP acquired a new position in ViewRay in the 1st quarter valued at about $10,658,000. Pura Vida Investments LLC raised its holdings in ViewRay by 23.6% in the 1st quarter. Pura Vida Investments LLC now owns 9,632,701 shares of the company’s stock valued at $41,902,000 after acquiring an additional 1,837,114 shares during the period. Hudson Executive Capital LP raised its holdings in ViewRay by 13.4% in the 1st quarter. Hudson Executive Capital LP now owns 14,774,684 shares of the company’s stock valued at $64,270,000 after acquiring an additional 1,750,000 shares during the period. Finally, BlackRock Inc. lifted its position in ViewRay by 21.4% during the first quarter. BlackRock Inc. now owns 9,611,351 shares of the company’s stock worth $41,810,000 after acquiring an additional 1,694,880 shares during the last quarter. 88.75% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on VRAY shares. Guggenheim upgraded ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Friday, May 7th. BTIG Research raised ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $4.86.

About ViewRay

ViewRay, Inc designs, manufactures, and markets radiation therapy systems. The company offers MRIdian, a magnetic resonance image guided radiation therapy system to image and treat cancer patients. Its MRIdian integrates MRI technology, radiation delivery, and proprietary software to see the soft tissues, shape the dose to accommodate for changes in anatomy, and strike the target using real-time targeting throughout the treatment.

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