Viewray Inc (NASDAQ:VRAY) Expected to Announce Earnings of -$0.27 Per Share

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Wall Street brokerages expect Viewray Inc (NASDAQ:VRAY) to announce ($0.27) earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Viewray’s earnings, with the lowest EPS estimate coming in at ($0.34) and the highest estimate coming in at ($0.21). Viewray posted earnings of ($0.25) per share during the same quarter last year, which suggests a negative year over year growth rate of 8%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, November 12th.

On average, analysts expect that Viewray will report full year earnings of ($1.19) per share for the current year, with EPS estimates ranging from ($1.33) to ($1.10). For the next financial year, analysts expect that the firm will report earnings of ($0.91) per share, with EPS estimates ranging from ($1.11) to ($0.65). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Viewray.

Viewray (NASDAQ:VRAY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). The company had revenue of $30.17 million during the quarter, compared to analyst estimates of $25.92 million. Viewray had a negative net margin of 128.13% and a negative return on equity of 67.02%. Viewray’s revenue for the quarter was up 83.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.30) EPS.

VRAY has been the topic of several recent analyst reports. Zacks Investment Research upgraded Viewray from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Saturday, October 19th. Morgan Stanley set a $5.00 price target on Viewray and gave the stock a “hold” rating in a research note on Monday, August 12th. BidaskClub upgraded Viewray from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 16th. Northland Securities restated a “buy” rating and set a $5.00 price objective on shares of Viewray in a research note on Monday, August 19th. Finally, Piper Jaffray Companies set a $6.00 price objective on Viewray and gave the company a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $7.30.

In related news, CEO Scott William Drake purchased 131,260 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available at the SEC website. Also, COO Shahriar Matin purchased 60,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought 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. Corporate insiders own 15.48% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Viewray by 4,390.1% during the 2nd quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock worth $52,000 after purchasing an additional 5,751 shares during the period. Usca Ria LLC acquired a new stake in shares of Viewray during the 3rd quarter worth approximately $28,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Viewray during the 2nd quarter worth approximately $123,000. Stephens Inc. AR raised its position in shares of Viewray by 9.6% during the 2nd quarter. Stephens Inc. AR now owns 17,420 shares of the company’s stock worth $153,000 after purchasing an additional 1,522 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Viewray in the 2nd quarter worth approximately $156,000.

VRAY stock traded up $0.05 during mid-day trading on Thursday, reaching $2.70. The company had a trading volume of 754,600 shares, compared to its average volume of 1,518,411. Viewray has a fifty-two week low of $2.12 and a fifty-two week high of $9.76. The firm has a fifty day simple moving average of $2.75 and a 200 day simple moving average of $6.10. 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 company has a market capitalization of $274.76 million, a price-to-earnings ratio of -2.76 and a beta of 1.00.

About Viewray

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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