Viewray (NASDAQ:VRAY) Trading Down 8.2%

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Shares of Viewray Inc (NASDAQ:VRAY) were down 8.2% during trading on Friday . The company traded as low as $3.86 and last traded at $3.91, approximately 2,306,178 shares were traded during mid-day trading. An increase of 59% from the average daily volume of 1,453,613 shares. The stock had previously closed at $4.26.

A number of analysts have commented on VRAY shares. Jefferies Financial Group reduced their price objective on Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Piper Jaffray Companies started coverage on Viewray in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $15.00 price objective for the company. TheStreet downgraded Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. BidaskClub upgraded Viewray from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Cantor Fitzgerald set a $13.00 price objective on Viewray and gave the stock a “buy” rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Viewray presently has a consensus rating of “Buy” and an average target price of $10.25.

The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.01 and a current ratio of 4.01. The firm has a market cap of $419.53 million, a P/E ratio of -3.99 and a beta of 0.79. The company has a 50-day moving average of $7.38 and a 200 day moving average of $7.94.

Viewray (NASDAQ:VRAY) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09). The company had revenue of $30.17 million for the quarter, compared to the consensus estimate of $25.92 million. Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. Viewray’s quarterly revenue was up 83.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. Sell-side analysts anticipate that Viewray Inc will post -1.18 EPS for the current fiscal year.

In related news, insider James F. Dempsey sold 5,146 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $8.63, for a total transaction of $44,409.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James F. Dempsey sold 21,615 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were 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. 15.48% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its holdings in Viewray by 6.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock valued at $202,000 after purchasing an additional 1,460 shares in the last quarter. Stephens Inc. AR increased its holdings in Viewray by 9.6% during the 2nd quarter. Stephens Inc. AR now owns 17,420 shares of the company’s stock valued at $153,000 after purchasing an additional 1,522 shares in the last quarter. Wrapmanager Inc. increased its holdings in Viewray by 5.5% during the 2nd quarter. Wrapmanager Inc. now owns 34,699 shares of the company’s stock valued at $306,000 after purchasing an additional 1,797 shares in the last quarter. TD Asset Management Inc. increased its holdings in Viewray by 4.3% during the 1st quarter. TD Asset Management Inc. now owns 60,167 shares of the company’s stock valued at $445,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Viewray by 4.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 74,440 shares of the company’s stock valued at $550,000 after purchasing an additional 3,090 shares in the last quarter.

Viewray Company Profile (NASDAQ:VRAY)

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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