BidaskClub lowered shares of Viewray (NASDAQ:VRAY) from a sell rating to a strong sell rating in a research report report published on Friday, BidAskClub reports.

A number of other analysts also recently weighed in on the company. Cantor Fitzgerald set a $13.00 price target on Viewray and gave the stock a buy rating in a report on Tuesday, May 28th. Jefferies Financial Group decreased their price target on Viewray from $14.00 to $7.00 and set a buy rating for the company in a report on Friday, August 9th. Northland Securities reiterated a buy rating and set a $5.00 price target on shares of Viewray in a report on Monday, August 19th. ValuEngine downgraded Viewray from a buy rating to a hold rating in a report on Saturday, August 10th. Finally, Piper Jaffray Companies initiated coverage on Viewray in a report on Tuesday, June 18th. They set an overweight rating and a $15.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $9.55.

Shares of NASDAQ:VRAY opened at $3.72 on Friday. The firm has a market cap of $366.35 million, a P/E ratio of -3.80 and a beta of 1.06. The company has a quick ratio of 3.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.55. Viewray has a 12-month low of $2.76 and a 12-month high of $10.44. The business has a fifty day simple moving average of $4.92 and a 200 day simple moving average of $7.48.

Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09). Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. The company had revenue of $30.17 million for the quarter, compared to the consensus estimate of $25.92 million. During the same period in the prior year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 83.5% on a year-over-year basis. As a group, equities research analysts expect that Viewray will post -1.18 EPS for the current year.

In other news, insider James F. Dempsey sold 21,615 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $8.97, for a total value of $193,886.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James F. Dempsey sold 5,146 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $8.63, for a total value of $44,409.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,175 shares of company stock valued at $1,235,805. Company insiders own 15.48% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Park West Asset Management LLC grew its stake in shares of Viewray by 87.3% in the 2nd quarter. Park West Asset Management LLC now owns 7,615,325 shares of the company’s stock valued at $67,091,000 after buying an additional 3,549,255 shares during the period. Perceptive Advisors LLC grew its stake in shares of Viewray by 13.5% in the 2nd quarter. Perceptive Advisors LLC now owns 5,455,243 shares of the company’s stock valued at $48,061,000 after buying an additional 649,593 shares during the period. BlackRock Inc. grew its stake in shares of Viewray by 1.5% in the 2nd quarter. BlackRock Inc. now owns 4,894,543 shares of the company’s stock valued at $43,121,000 after buying an additional 72,529 shares during the period. Vanguard Group Inc. grew its stake in shares of Viewray by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,673,074 shares of the company’s stock valued at $32,359,000 after buying an additional 75,466 shares during the period. Finally, Bamco Inc. NY grew its stake in shares of Viewray by 18.3% in the 2nd quarter. Bamco Inc. NY now owns 1,875,809 shares of the company’s stock valued at $16,526,000 after buying an additional 290,000 shares during the period.

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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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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