Viewray Inc (NASDAQ:VRAY) – Investment analysts at Cantor Fitzgerald cut their FY2018 earnings per share (EPS) estimates for Viewray in a research note issued on Tuesday. Cantor Fitzgerald analyst C. Bijou now forecasts that the company will post earnings per share of ($0.64) for the year, down from their prior forecast of ($0.59). Cantor Fitzgerald has a “Buy” rating and a $13.00 price target on the stock.
VRAY has been the topic of a number of other research reports. ValuEngine lowered Viewray from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. B. Riley assumed coverage on Viewray in a research note on Thursday, February 8th. They set a “buy” rating and a $13.50 price objective on the stock. Mizuho reissued a “buy” rating and set a $12.00 price objective on shares of Viewray in a research note on Tuesday, January 9th. Northland Securities reissued a “buy” rating and set a $10.00 price objective on shares of Viewray in a research note on Friday, November 17th. Finally, BidaskClub lowered Viewray from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $11.58.
Viewray (NASDAQ:VRAY) last released its quarterly earnings data on Monday, March 12th. The company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.13). The business had revenue of $19.90 million during the quarter, compared to the consensus estimate of $21.23 million. The company’s revenue for the quarter was up 23.6% on a year-over-year basis.
In other news, insider James F. Dempsey sold 75,243 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $7.57, for a total value of $569,589.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 62.81% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd lifted its stake in shares of Viewray by 37.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 50,281 shares of the company’s stock valued at $290,000 after purchasing an additional 13,657 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Viewray by 843.2% in the 2nd quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock valued at $107,000 after buying an additional 14,789 shares during the period. PEAK6 Investments L.P. purchased a new stake in shares of Viewray in the 4th quarter valued at $148,000. MetLife Investment Advisors LLC purchased a new stake in shares of Viewray in the 4th quarter valued at $148,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Viewray by 95.9% in the 3rd quarter. Wells Fargo & Company MN now owns 37,802 shares of the company’s stock valued at $218,000 after buying an additional 18,502 shares during the period. 63.22% of the stock is currently owned by institutional investors and hedge funds.
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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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