$14.46 Million in Sales Expected for Viewray Inc (VRAY) This Quarter

Analysts predict that Viewray Inc (NASDAQ:VRAY) will report $14.46 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Viewray’s earnings, with the lowest sales estimate coming in at $11.82 million and the highest estimate coming in at $18.90 million. Viewray reported sales of $700,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 1,965.7%. The company is scheduled to report its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that Viewray will report full year sales of $86.59 million for the current fiscal year, with estimates ranging from $85.65 million to $87.53 million. For the next financial year, analysts forecast that the firm will post sales of $146.97 million per share, with estimates ranging from $125.48 million to $159.42 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Viewray.

Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, May 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. The company had revenue of $26.19 million for the quarter, compared to analysts’ expectations of $15.50 million. Viewray had a negative return on equity of 1,375.57% and a negative net margin of 83.09%. Viewray’s quarterly revenue was up 2029.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.54) earnings per share.

VRAY has been the topic of several analyst reports. ValuEngine raised Viewray from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub lowered Viewray from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 28th. Cantor Fitzgerald reiterated a “buy” rating and set a $13.00 price target on shares of Viewray in a report on Friday. Mizuho reiterated a “buy” rating and set a $12.00 price target on shares of Viewray in a report on Thursday, April 19th. Finally, B. Riley began coverage on Viewray in a report on Thursday, February 8th. They set a “buy” rating and a $13.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $11.58.

Shares of Viewray traded down $0.12, hitting $6.76, during mid-day trading on Friday, Marketbeat.com reports. 15,359 shares of the company traded hands, compared to its average volume of 646,096. The stock has a market cap of $524.45 million, a price-to-earnings ratio of -6.62 and a beta of 0.59. The company has a quick ratio of 3.04, a current ratio of 3.79 and a debt-to-equity ratio of 0.77. Viewray has a 12-month low of $6.65 and a 12-month high of $6.96.

In related news, insider James F. Dempsey sold 75,243 shares of Viewray stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $7.57, for a total transaction of $569,589.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 62.81% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. EAM Investors LLC bought a new stake in shares of Viewray in the fourth quarter valued at $4,463,000. RTW Investments LP raised its stake in shares of Viewray by 32.1% in the fourth quarter. RTW Investments LP now owns 1,348,210 shares of the company’s stock valued at $12,484,000 after buying an additional 327,748 shares during the period. Park West Asset Management LLC bought a new stake in shares of Viewray in the fourth quarter valued at $24,217,000. PEAK6 Investments L.P. bought a new stake in shares of Viewray in the fourth quarter valued at $148,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Viewray by 88.5% in the fourth quarter. Bank of New York Mellon Corp now owns 205,129 shares of the company’s stock valued at $1,901,000 after buying an additional 96,302 shares during the period. Hedge funds and other institutional investors own 82.01% of the company’s stock.

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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