Viewray Inc (NASDAQ:VRAY) Expected to Post Earnings of -$0.29 Per Share

Analysts expect Viewray Inc (NASDAQ:VRAY) to announce ($0.29) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Viewray’s earnings. The highest EPS estimate is ($0.25) and the lowest is ($0.34). Viewray posted earnings of ($0.25) per share in the same quarter last year, which suggests a negative year over year growth rate of 16%. The firm is expected to issue its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Viewray will report full-year earnings of ($1.21) per share for the current year, with EPS estimates ranging from ($1.33) to ($1.10). For the next financial year, analysts expect that the company will report earnings of ($0.88) per share, with EPS estimates ranging from ($1.11) to ($0.65). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Viewray.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09). Viewray had a negative net margin of 128.13% and a negative return on equity of 67.02%. The business had revenue of $30.17 million during the quarter, compared to analysts’ expectations of $25.92 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. Viewray’s revenue for the quarter was up 83.5% on a year-over-year basis.

VRAY has been the subject of several research reports. ValuEngine lowered Viewray from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Cantor Fitzgerald set a $6.00 price objective on Viewray and gave the stock a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research upgraded Viewray from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Morgan Stanley set a $5.00 price objective on Viewray and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group cut their price objective on Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.55.

NASDAQ:VRAY traded up $0.08 during trading hours on Friday, hitting $3.49. 1,573,297 shares of the stock were exchanged, compared to its average volume of 1,620,864. Viewray has a 52-week low of $2.76 and a 52-week high of $10.44. The firm’s fifty day moving average price is $4.47 and its 200 day moving average price is $7.38. The company has a current ratio of 4.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.55. The company has a market cap of $335.82 million, a P/E ratio of -3.56 and a beta of 1.06.

In other news, insider James F. Dempsey sold 279,414 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.57, for a total transaction of $997,507.98. Following the transaction, the insider now directly owns 272,433 shares in the company, valued at approximately $972,585.81. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Scott William Drake bought 131,260 shares of the stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $3.81 per share, for a total transaction of $500,100.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 306,175 shares of company stock valued at $1,235,805. 15.48% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of VRAY. BNP Paribas Arbitrage SA boosted its holdings in shares of Viewray by 57,004.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,134 shares of the company’s stock worth $97,000 after purchasing an additional 13,111 shares during the last quarter. Stephens Inc. AR acquired a new position in shares of Viewray during the 1st quarter worth approximately $117,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Viewray by 4.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 74,440 shares of the company’s stock worth $550,000 after purchasing an additional 3,090 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Viewray by 4.3% during the 1st quarter. TD Asset Management Inc. now owns 60,167 shares of the company’s stock worth $445,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Viewray by 7.8% during the 1st quarter. Royce & Associates LP now owns 498,900 shares of the company’s stock worth $3,687,000 after purchasing an additional 35,900 shares during the last quarter.

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.

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