Viewray Inc (NASDAQ:VRAY) – Analysts at Oppenheimer decreased their FY2019 earnings estimates for shares of Viewray in a research note issued on Wednesday, November 13th. Oppenheimer analyst S. Kalia now forecasts that the company will post earnings per share of ($1.20) for the year, down from their prior forecast of ($1.13). Oppenheimer currently has a “Outperform” rating and a $7.00 target price on the stock. Oppenheimer also issued estimates for Viewray’s Q4 2019 earnings at ($0.32) EPS.

Viewray (NASDAQ:VRAY) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The business had revenue of $20.90 million during the quarter, compared to the consensus estimate of $20.66 million. Viewray had a negative return on equity of 70.69% and a negative net margin of 110.61%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.39) EPS.

VRAY has been the subject of several other reports. BidaskClub upgraded Viewray from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 16th. Piper Jaffray Companies set a $6.00 price target on Viewray and gave the company a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group reduced their price target on Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Morgan Stanley set a $5.00 price target on Viewray and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research upgraded Viewray from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Saturday, October 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $7.30.

VRAY opened at $2.77 on Friday. The business has a fifty day simple moving average of $2.66 and a 200 day simple moving average of $5.97. The company has a market capitalization of $244.23 million, a PE ratio of -2.83 and a beta of 1.00. Viewray has a 1 year low of $2.12 and a 1 year high of $9.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.01 and a quick ratio of 3.01.

In other news, insider James F. Dempsey sold 279,414 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.57, for a total transaction of $997,507.98. Following the completion of the sale, the insider now directly owns 272,433 shares in the company, valued at approximately $972,585.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.48% of the company’s stock.

Several large investors have recently added to or reduced their stakes in VRAY. Park West Asset Management LLC lifted its position in shares of Viewray by 87.3% during 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 acquiring an additional 3,549,255 shares during the period. Perceptive Advisors LLC lifted its position in shares of Viewray by 13.5% during the 2nd quarter. Perceptive Advisors LLC now owns 5,455,243 shares of the company’s stock valued at $48,061,000 after acquiring an additional 649,593 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Viewray by 204.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 713,178 shares of the company’s stock valued at $6,283,000 after acquiring an additional 478,819 shares during the period. Granite Investment Partners LLC lifted its position in shares of Viewray by 35.0% during the 2nd quarter. Granite Investment Partners LLC now owns 1,428,821 shares of the company’s stock valued at $12,588,000 after acquiring an additional 370,667 shares during the period. Finally, Asymmetry Capital Management L.P. lifted its position in shares of Viewray by 431.0% during the 2nd quarter. Asymmetry Capital Management L.P. now owns 443,973 shares of the company’s stock valued at $3,911,000 after acquiring an additional 360,362 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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Earnings History and Estimates for Viewray (NASDAQ:VRAY)

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