ViewRay, Inc. (VRAY) Expected to Announce Quarterly Sales of $29.68 Million
Equities analysts expect that ViewRay, Inc. (NASDAQ:VRAY) will announce sales of $29.68 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for ViewRay’s earnings, with estimates ranging from $29.55 million to $29.80 million. ViewRay reported sales of $16.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 84%. The business is expected to announce its next earnings results on Thursday, March 15th.
On average, analysts expect that ViewRay will report full year sales of $29.68 million for the current financial year, with estimates ranging from $43.67 million to $43.90 million. For the next year, analysts anticipate that the company will post sales of $88.79 million per share, with estimates ranging from $74.67 million to $102.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover ViewRay.
ViewRay (NASDAQ:VRAY) last announced its quarterly earnings results on Monday, November 13th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The company had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $18.63 million. The company’s revenue for the quarter was up 2950.0% compared to the same quarter last year.
VRAY has been the topic of several research reports. Mizuho initiated coverage on shares of ViewRay in a research report on Wednesday, September 6th. They set a “buy” rating and a $12.00 price objective on the stock. Northland Securities reissued a “buy” rating and set a $10.00 price objective on shares of ViewRay in a research report on Friday, November 17th. Finally, ValuEngine downgraded shares of ViewRay from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.60.
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Large investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its holdings in shares of ViewRay by 843.2% in the second quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock valued at $107,000 after acquiring an additional 14,789 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of ViewRay by 5.0% in the second quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock valued at $135,000 after acquiring an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of ViewRay in the second quarter valued at about $159,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of ViewRay in the third quarter valued at about $164,000. Finally, White Pine Capital LLC purchased a new stake in shares of ViewRay in the second quarter valued at about $173,000. 46.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of ViewRay (NASDAQ VRAY) opened at $9.35 on Wednesday. ViewRay has a one year low of $2.98 and a one year high of $10.39. The company has a quick ratio of 1.20, a current ratio of 1.59 and a debt-to-equity ratio of -1.67.
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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