Viewray Inc (NASDAQ:VRAY) Expected to Post Earnings of -$0.23 Per Share

Brokerages forecast that Viewray Inc (NASDAQ:VRAY) will announce earnings of ($0.23) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Viewray’s earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.26). Viewray reported earnings per share of ($0.30) during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.3%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, August 8th.

According to Zacks, analysts expect that Viewray will report full-year earnings of ($1.00) per share for the current year, with EPS estimates ranging from ($1.12) to ($0.74). For the next year, analysts anticipate that the business will report earnings of ($0.74) per share, with EPS estimates ranging from ($0.93) to ($0.51). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Viewray.

Viewray (NASDAQ:VRAY) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.12). The company had revenue of $20.30 million during the quarter, compared to analyst estimates of $20.40 million. Viewray had a negative net margin of 139.82% and a negative return on equity of 71.16%. The firm’s quarterly revenue was down 22.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS.

VRAY has been the topic of a number of research reports. TheStreet lowered shares of Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, July 5th. Cantor Fitzgerald set a $13.00 price objective on shares of Viewray and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Piper Jaffray Companies cut their price objective on shares of Cactus from $42.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Viewray has a consensus rating of “Buy” and a consensus price target of $12.95.

In other Viewray 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 15.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRAY. NumerixS Investment Technologies Inc raised its position in Viewray by 90.6% during the fourth quarter. NumerixS Investment Technologies Inc now owns 6,100 shares of the company’s stock worth $34,000 after acquiring an additional 2,900 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Viewray during the fourth quarter worth $45,000. Citigroup Inc. raised its position in Viewray by 146.5% during the fourth quarter. Citigroup Inc. now owns 8,121 shares of the company’s stock worth $49,000 after acquiring an additional 4,826 shares in the last quarter. Advisory Services Network LLC bought a new stake in Viewray during the fourth quarter worth $56,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in Viewray during the fourth quarter worth $62,000.

Shares of Viewray stock traded up $0.07 on Tuesday, hitting $9.56. The company had a trading volume of 906,400 shares, compared to its average volume of 1,113,809. The company has a market capitalization of $915.23 million, a price-to-earnings ratio of -9.76 and a beta of 0.79. Viewray has a twelve month low of $4.86 and a twelve month high of $13.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.28 and a quick ratio of 3.21. The company has a 50-day simple moving average of $8.83.

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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Earnings History and Estimates for Viewray (NASDAQ:VRAY)

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