Viewray Inc to Post FY2019 Earnings of $0.31 Per Share, Zacks Investment Research Forecasts (VRAY)

Viewray Inc (NASDAQ:VRAY) – Research analysts at Zacks Investment Research increased their FY2019 earnings estimates for shares of Viewray in a report released on Tuesday. Zacks Investment Research analyst A. Dushyanth now forecasts that the company will post earnings per share of $0.31 for the year, up from their prior estimate of $0.29.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The company had revenue of $12.20 million for the quarter, compared to analyst estimates of $18.63 million. The business’s quarterly revenue was up 2950.0% compared to the same quarter last year.

A number of other analysts also recently weighed in on the stock. BidaskClub downgraded shares of Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Mizuho reiterated a “buy” rating and issued a $12.00 price target on shares of Viewray in a research report on Tuesday, January 9th. Cantor Fitzgerald set a $13.00 price target on shares of Viewray and gave the company a “buy” rating in a research report on Monday, January 8th. ValuEngine downgraded shares of Viewray from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Northland Securities reiterated a “buy” rating and issued a $10.00 price target on shares of Viewray in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $11.20.

Shares of Viewray (NASDAQ VRAY) traded down $0.08 during trading hours on Thursday, hitting $8.62. 939,681 shares of the company were exchanged, compared to its average volume of 1,100,750. The firm has a market cap of $587.63, a P/E ratio of -7.91 and a beta of 17.60. The company has a quick ratio of 1.20, a current ratio of 1.59 and a debt-to-equity ratio of -1.67. Viewray has a 1-year low of $3.25 and a 1-year high of $10.64.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRAY. Vanguard Group Inc. increased its stake in Viewray by 67.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,026,880 shares of the company’s stock worth $6,644,000 after purchasing an additional 411,866 shares in the last quarter. Pura Vida Investments LLC increased its stake in Viewray by 132.9% during the 3rd quarter. Pura Vida Investments LLC now owns 607,040 shares of the company’s stock worth $3,497,000 after purchasing an additional 346,370 shares in the last quarter. State Street Corp increased its stake in Viewray by 631.7% during the 2nd quarter. State Street Corp now owns 395,418 shares of the company’s stock worth $2,555,000 after purchasing an additional 341,376 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Viewray by 2,447.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 286,365 shares of the company’s stock worth $1,853,000 after purchasing an additional 275,123 shares in the last quarter. Finally, RTW Investments LP increased its stake in Viewray by 33.5% during the 3rd quarter. RTW Investments LP now owns 1,020,462 shares of the company’s stock worth $5,878,000 after purchasing an additional 256,127 shares in the last quarter. 50.02% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Viewray (NASDAQ:VRAY)

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