Brokers Issue Forecasts for Viewray Inc’s FY2018 Earnings (VRAY)

Viewray Inc (NASDAQ:VRAY) – Equities research analysts at Zacks Investment Research dropped their FY2018 earnings per share estimates for shares of Viewray in a research report issued on Tuesday. Zacks Investment Research analyst A. Dushyanth now anticipates that the company will post earnings per share of ($0.76) for the year, down from their prior forecast of ($0.64). Zacks Investment Research also issued estimates for Viewray’s FY2019 earnings at ($0.35) EPS and FY2020 earnings at ($0.13) EPS.

Viewray (NASDAQ:VRAY) last posted its earnings results on Monday, March 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.13). The firm had revenue of $19.90 million during the quarter, compared to the consensus estimate of $21.23 million. The business’s quarterly revenue was up 23.6% on a year-over-year basis.

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

Shares of Viewray stock opened at $6.46 on Thursday. The stock has a market capitalization of $519.43, a P/E ratio of -5.13 and a beta of 0.21. Viewray has a 12-month low of $4.40 and a 12-month high of $10.64. The company has a debt-to-equity ratio of 22.47, a quick ratio of 1.84 and a current ratio of 2.18.

In other Viewray news, insider James F. Dempsey sold 75,243 shares of the firm’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $7.57, for a total value of $569,589.51. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 62.81% of the company’s stock.

Hedge funds have recently modified their holdings of the business. PEAK6 Investments L.P. bought a new position in shares of Viewray in the 4th quarter valued at $148,000. MetLife Investment Advisors LLC bought a new position in shares of Viewray in the 4th quarter valued at $148,000. Nationwide Fund Advisors lifted its stake in shares of Viewray by 843.2% in the 2nd quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock valued at $107,000 after acquiring an additional 14,789 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Viewray in the 2nd quarter valued at $159,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of Viewray in the 3rd quarter valued at $164,000. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Viewray (NASDAQ:VRAY)

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