Viewray Inc (NASDAQ:VRAY) Expected to Post Quarterly Sales of $15.25 Million

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Brokerages expect that Viewray Inc (NASDAQ:VRAY) will post sales of $15.25 million for the current quarter, according to Zacks. Five analysts have issued estimates for Viewray’s earnings. The highest sales estimate is $18.42 million and the lowest is $13.52 million. Viewray reported sales of $17.67 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 13.7%. The company is expected to announce its next earnings results on Thursday, November 14th.

On average, analysts expect that Viewray will report full-year sales of $86.30 million for the current financial year, with estimates ranging from $84.35 million to $88.38 million. For the next year, analysts forecast that the business will report sales of $145.74 million, with estimates ranging from $113.30 million to $175.84 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Viewray.

Viewray (NASDAQ:VRAY) last issued its quarterly 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). Viewray had a negative return on equity of 62.98% and a negative net margin of 128.13%. The company had revenue of $30.17 million during the quarter, compared to analyst estimates of $25.92 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The company’s revenue was up 83.5% on a year-over-year basis.

A number of analysts recently commented on VRAY shares. Piper Jaffray Companies started coverage on shares of Viewray in a report on Tuesday, June 18th. They issued an “overweight” rating and a $15.00 target price on the stock. BidaskClub upgraded shares of Viewray from a “strong sell” rating to a “sell” rating in a report on Thursday. ValuEngine lowered shares of Viewray from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Cantor Fitzgerald set a $13.00 price target on shares of Viewray and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group cut their price target on shares of Viewray from $14.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.75.

Shares of NASDAQ VRAY traded down $0.08 during midday trading on Friday, reaching $3.93. The company’s stock had a trading volume of 2,237,859 shares, compared to its average volume of 1,411,491. The company has a current ratio of 4.28, a quick ratio of 3.21 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $8.17. Viewray has a one year low of $2.76 and a one year high of $10.73. The stock has a market capitalization of $387.03 million, a P/E ratio of -4.01 and a beta of 0.79.

In other news, CEO Scott William Drake bought 131,260 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $3.81 per share, for a total transaction of $500,100.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shahriar Matin bought 60,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $4.02 per share, for a total transaction of $241,200.00. The disclosure for this purchase can be found here. 15.48% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its position in Viewray by 6.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock worth $202,000 after purchasing an additional 1,460 shares during the period. Stephens Inc. AR raised its stake in Viewray by 9.6% in the second 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. raised its stake in Viewray by 5.5% in the second 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. raised its stake in Viewray by 4.3% in the first 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. raised its stake in Viewray by 4.3% in the first 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

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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