Viewray (NASDAQ:VRAY) announced its quarterly earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.17), Briefing.com reports. The company had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.77 million. Viewray had a negative net margin of 83.84% and a negative return on equity of 353.05%. The company’s revenue was up 45.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. Viewray updated its FY 2018 guidance to EPS.
Shares of VRAY traded down $2.12 during trading hours on Friday, hitting $6.63. 7,094,633 shares of the stock were exchanged, compared to its average volume of 1,038,098. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.64 and a current ratio of 3.33. Viewray has a 12-month low of $6.05 and a 12-month high of $13.21. The stock has a market capitalization of $710.70 million, a price-to-earnings ratio of -6.38 and a beta of 1.17.
In other news, major shareholder International Ltd Fosun purchased 2,702,702 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average cost of $9.25 per share, for a total transaction of $24,999,993.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Orbimed Advisors Llc sold 185,948 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $9.95, for a total value of $1,850,182.60. The disclosure for this sale can be found here. 43.93% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of VRAY. Bank of America Corp DE grew its holdings in Viewray by 209.7% in the 2nd quarter. Bank of America Corp DE now owns 14,710 shares of the company’s stock valued at $101,000 after buying an additional 9,960 shares in the last quarter. Sei Investments Co. purchased a new stake in Viewray in the 2nd quarter valued at $121,000. Metropolitan Life Insurance Co. NY purchased a new stake in Viewray in the 2nd quarter valued at $124,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Viewray in the 2nd quarter valued at $131,000. Finally, Voya Investment Management LLC grew its holdings in Viewray by 39.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,006 shares of the company’s stock valued at $132,000 after buying an additional 5,364 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.
A number of analysts have recently commented on the company. Robert W. Baird assumed coverage on Viewray in a research report on Thursday, October 18th. They issued an “outperform” rating and a $14.00 price objective for the company. BidaskClub cut Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. BTIG Research restated a “buy” rating and issued a $14.00 price objective on shares of Viewray in a research report on Tuesday, August 7th. ValuEngine cut Viewray from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $13.00 price objective on shares of Viewray in a research report on Wednesday, October 3rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Viewray currently has a consensus rating of “Buy” and an average target price of $12.79.
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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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