Viewray (VRAY) Cut to Hold at BidaskClub

Viewray (NASDAQ:VRAY) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, January 10th.

A number of other research analysts also recently commented on the stock. Mizuho reiterated a “buy” rating and set a $12.00 price objective on shares of Viewray in a research note on Tuesday, January 9th. Cantor Fitzgerald set a $13.00 price objective on shares of Viewray and gave the company a “buy” rating in a research note on Monday, January 8th. ValuEngine downgraded shares of Viewray from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Northland Securities restated a “buy” rating and issued a $10.00 price target on shares of Viewray in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Viewray presently has an average rating of “Buy” and a consensus target price of $11.20.

Viewray (NASDAQ VRAY) opened at $9.22 on Wednesday. Viewray has a 52-week low of $3.01 and a 52-week high of $10.64. The company has a debt-to-equity ratio of -1.67, a quick ratio of 1.20 and a current ratio of 1.59. The company has a market cap of $648.42, a P/E ratio of -8.16 and a beta of 0.13.

Viewray (NASDAQ:VRAY) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $12.20 million for the quarter, compared to the consensus estimate of $18.63 million. The firm’s revenue for the quarter was up 2950.0% on a year-over-year basis. equities research analysts expect that Viewray will post -1 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Pura Vida Investments LLC grew its stake in shares of Viewray by 132.9% in the 3rd quarter. Pura Vida Investments LLC now owns 607,040 shares of the company’s stock worth $3,497,000 after purchasing an additional 346,370 shares during the last quarter. Fosun International Ltd acquired a new position in shares of Viewray in the 3rd quarter worth approximately $640,000. Vanguard Group Inc. grew its stake in shares of Viewray by 67.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,026,880 shares of the company’s stock worth $6,644,000 after purchasing an additional 411,866 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Viewray in the second quarter worth about $323,000. Finally, Granite Investment Partners LLC acquired a new position in shares of Viewray in the third quarter worth about $492,000. 50.02% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Viewray (NASDAQ:VRAY)

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