“We are not too concerned because the of usual lumpiness at the beginning of new operations. Management remains confident it can complete installation of 7-8 units before year-end. On the positive side, new orders received grew to $29.9 mil vs. our est. of $24.3 mil. Given the favorable development in Europe, Q4 back orders may exceed our expectations.”,” Mizuho’s analyst wrote.
Several other research firms have also recently weighed in on VRAY. Aegis reiterated a buy rating and set a $11.00 price objective on shares of ViewRay in a research report on Saturday, July 22nd. ValuEngine cut ViewRay from a hold rating to a sell rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $10.60.
ViewRay (VRAY) traded up $1.41 on Monday, reaching $9.43. The company had a trading volume of 2,785,300 shares, compared to its average volume of 714,803. ViewRay has a twelve month low of $2.98 and a twelve month high of $10.39. The company has a current ratio of 1.59, a quick ratio of 1.45 and a debt-to-equity ratio of -1.67.
ViewRay (NASDAQ:VRAY) last posted its quarterly earnings results on Monday, November 13th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The company had revenue of $12.20 million during the quarter, compared to analyst estimates of $18.63 million. The company’s revenue was up 2950.0% on a year-over-year basis. equities analysts expect that ViewRay will post -0.84 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the business. Nationwide Fund Advisors increased its position in ViewRay by 843.2% during the 2nd quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock worth $107,000 after buying an additional 14,789 shares during the period. HighTower Advisors LLC increased its position in ViewRay by 5.0% during the 2nd quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock worth $135,000 after buying an additional 1,000 shares during the period. The Manufacturers Life Insurance Company bought a new position in ViewRay during the 2nd quarter worth $159,000. Thompson Siegel & Walmsley LLC bought a new position in ViewRay during the 3rd quarter worth $164,000. Finally, White Pine Capital LLC bought a new position in ViewRay during the 2nd quarter worth $173,000. Hedge funds and other institutional investors own 53.88% 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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