Mizuho Reaffirms “Buy” Rating for Viewray (NASDAQ:VRAY)

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Viewray (NASDAQ:VRAY)‘s stock had its “buy” rating restated by investment analysts at Mizuho in a research note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $12.00 price objective on the stock. Mizuho’s price target would indicate a potential upside of 30.15% from the stock’s current price.

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. TheStreet downgraded shares of Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. Cantor Fitzgerald set a $13.00 price objective on shares of Viewray and gave the company a “buy” rating in a research report on Tuesday, May 28th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Finally, Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $12.95.

NASDAQ:VRAY opened at $9.22 on Wednesday. The company has a current ratio of 4.28, a quick ratio of 3.21 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $8.73. The firm has a market capitalization of $887.12 million, a P/E ratio of -9.41 and a beta of 0.79. Viewray has a 52-week low of $4.86 and a 52-week high of $13.21.

Viewray (NASDAQ:VRAY) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). Viewray had a negative return on equity of 71.16% and a negative net margin of 139.82%. The business had revenue of $20.30 million for the quarter, compared to the consensus estimate of $20.40 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The company’s revenue for the quarter was down 22.5% on a year-over-year basis. Research analysts anticipate that Viewray will post -1 EPS for the current year.

In other news, insider James F. Dempsey sold 5,146 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $8.63, for a total transaction of $44,409.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.48% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Viewray by 2.8% in the fourth quarter. FMR LLC now owns 9,561,726 shares of the company’s stock worth $58,039,000 after purchasing an additional 256,939 shares during the last quarter. BlackRock Inc. grew its stake in shares of Viewray by 9.6% in the fourth quarter. BlackRock Inc. now owns 4,932,420 shares of the company’s stock worth $29,940,000 after purchasing an additional 431,375 shares during the last quarter. Elk Creek Partners LLC grew its stake in shares of Viewray by 5.0% in the first quarter. Elk Creek Partners LLC now owns 1,266,153 shares of the company’s stock worth $9,357,000 after purchasing an additional 59,729 shares during the last quarter. Granite Investment Partners LLC boosted its position in 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 acquiring an additional 263,128 shares during the last quarter. Finally, Pier Capital LLC boosted its position in 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 acquiring an additional 213,259 shares during the last quarter.

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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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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