Viewray Inc to Post Q3 2019 Earnings of ($0.23) Per Share, B. Riley Forecasts (NASDAQ:VRAY)

Viewray Inc (NASDAQ:VRAY) – Equities research analysts at B. Riley upped their Q3 2019 earnings estimates for shares of Viewray in a note issued to investors on Wednesday, October 16th. B. Riley analyst A. D’silva now expects that the company will earn ($0.23) per share for the quarter, up from their previous forecast of ($0.28). B. Riley also issued estimates for Viewray’s FY2019 earnings at ($1.15) EPS.

VRAY has been the subject of a number of other reports. Jefferies Financial Group decreased their target price on shares of Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Oppenheimer started coverage on shares of Viewray in a research note on Tuesday. They set an “outperform” rating and a $7.00 target price for the company. Zacks Investment Research upgraded shares of Viewray from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Saturday. BidaskClub upgraded shares of Viewray from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 16th. Finally, Mizuho set a $9.00 target price on shares of Viewray and gave the company a “buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $7.30.

Shares of VRAY opened at $2.47 on Monday. The firm has a market cap of $248.17 million, a PE ratio of -2.52 and a beta of 1.02. 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 firm has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $6.52. Viewray has a 1-year low of $2.12 and a 1-year high of $9.76.

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

Several large investors have recently bought and sold shares of VRAY. Bank of Montreal Can boosted its holdings in Viewray by 4,390.1% in the 2nd quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock worth $52,000 after buying an additional 5,751 shares during the period. Allworth Financial LP boosted its holdings in Viewray by 587.8% in the 3rd quarter. Allworth Financial LP now owns 32,594 shares of the company’s stock worth $95,000 after buying an additional 27,855 shares during the period. Parametric Portfolio Associates LLC bought a new position in Viewray in the 2nd quarter worth $123,000. Stephens Inc. AR boosted its holdings in Viewray by 9.6% in the 2nd quarter. Stephens Inc. AR now owns 17,420 shares of the company’s stock worth $153,000 after buying an additional 1,522 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Viewray in the 2nd quarter worth $156,000.

In other news, insider James F. Dempsey sold 279,414 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.57, for a total value of $997,507.98. Following the completion of the sale, the insider now directly owns 272,433 shares in the company, valued at approximately $972,585.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James F. Dempsey sold 21,615 shares of the company’s stock in a transaction on 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. Corporate insiders own 15.48% of the company’s stock.

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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Earnings History and Estimates for Viewray (NASDAQ:VRAY)

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