ViewRay, Inc. (VRAY) Expected to Post Quarterly Sales of $18.50 Million
Equities analysts predict that ViewRay, Inc. (NASDAQ:VRAY) will report $18.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for ViewRay’s earnings. The highest sales estimate is $18.90 million and the lowest is $18.10 million. ViewRay reported sales of $360,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 5,038.9%. The business is expected to announce its next quarterly earnings results on Monday, November 13th.
On average, analysts expect that ViewRay will report full year sales of $18.50 million for the current year, with estimates ranging from $46.00 million to $49.58 million. For the next fiscal year, analysts forecast that the business will report sales of $96.91 million per share, with estimates ranging from $74.72 million to $119.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow ViewRay.
ViewRay (NASDAQ:VRAY) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The firm had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.68 million. The firm’s revenue for the quarter was up 133.3% on a year-over-year basis. During the same period last year, the business posted ($0.32) earnings per share.
VRAY has been the subject of several recent analyst 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 for the company. Aegis reaffirmed a “buy” rating and set a $11.00 price objective on shares of ViewRay in a research report on Saturday, July 22nd. Finally, ValuEngine downgraded shares of ViewRay from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $10.00.
Shares of ViewRay (NASDAQ:VRAY) traded up $1.10 during mid-day trading on Wednesday, hitting $8.31. 2,400,000 shares of the stock traded hands, compared to its average volume of 724,363. ViewRay has a one year low of $2.67 and a one year high of $10.39. The company has a debt-to-equity ratio of -2.62, a current ratio of 1.73 and a quick ratio of 1.45.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors lifted its holdings in shares of ViewRay by 843.2% in the 2nd quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock worth $107,000 after purchasing an additional 14,789 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of ViewRay in the 1st quarter worth $167,000. HighTower Advisors LLC bought a new position in shares of ViewRay in the 1st quarter worth $170,000. Wells Fargo & Company MN bought a new position in shares of ViewRay in the 1st quarter worth $177,000. Finally, UBS Group AG lifted its holdings in shares of ViewRay by 447.7% in the 1st quarter. UBS Group AG now owns 22,479 shares of the company’s stock worth $192,000 after purchasing an additional 18,375 shares in the last quarter. Institutional investors own 53.70% of the company’s stock.
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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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