Viewray (NASDAQ:VRAY) Lifted to “Buy” at ValuEngine

Viewray (NASDAQ:VRAY) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

A number of other research analysts have also recently commented on VRAY. BidaskClub cut Viewray from a “sell” rating to a “strong sell” rating in a research report on Friday, September 13th. Zacks Investment Research raised Viewray from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Cantor Fitzgerald set a $6.00 price target on Viewray and gave the company a “buy” rating in a research report on Friday, September 13th. Morgan Stanley set a $5.00 price target on Viewray and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group dropped their price target on Viewray from $14.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Viewray presently has an average rating of “Buy” and an average price target of $9.55.

Shares of NASDAQ:VRAY opened at $2.45 on Thursday. The company has a market capitalization of $241.28 million, a PE ratio of -2.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.01 and a quick ratio of 3.01. The business has a fifty day moving average price of $3.43 and a two-hundred day moving average price of $6.80. Viewray has a 1 year low of $2.12 and a 1 year high of $10.02.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). The business had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. Viewray had a negative net margin of 128.13% and a negative return on equity of 67.02%. The firm’s revenue for the quarter was up 83.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) EPS. Sell-side analysts anticipate that Viewray will post -1.18 earnings per share for the current year.

In related news, insider James F. Dempsey sold 279,414 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.57, for a total transaction of $997,507.98. Following the sale, the insider now owns 272,433 shares of the company’s stock, valued at approximately $972,585.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James F. Dempsey sold 21,615 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $8.97, for a total value of $193,886.55. The disclosure for this sale can be found here. 15.48% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in Viewray by 587.8% during the 3rd quarter. Allworth Financial LP now owns 32,594 shares of the company’s stock worth $95,000 after purchasing an additional 27,855 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in Viewray during the 2nd quarter worth about $1,489,000. Park West Asset Management LLC lifted its holdings in Viewray by 87.3% during the 2nd quarter. Park West Asset Management LLC now owns 7,615,325 shares of the company’s stock worth $67,091,000 after purchasing an additional 3,549,255 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Viewray by 13.5% during the 2nd quarter. Perceptive Advisors LLC now owns 5,455,243 shares of the company’s stock worth $48,061,000 after purchasing an additional 649,593 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in Viewray by 18.3% during the 2nd quarter. Bamco Inc. NY now owns 1,875,809 shares of the company’s stock worth $16,526,000 after purchasing an additional 290,000 shares in 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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