Mizuho reiterated their buy rating on shares of Viewray (NASDAQ:VRAY) in a research note published on Sunday morning, AnalystRatings.com reports. The brokerage currently has a $9.00 price target on the stock.

VRAY has been the topic of several other reports. Piper Jaffray Companies began coverage on shares of Viewray in a research report on Tuesday, June 18th. They issued an overweight rating and a $15.00 price objective on the stock. BidaskClub lowered shares of Viewray from a sell rating to a strong sell rating in a research report on Thursday, August 8th. ValuEngine lowered shares of Viewray from a buy rating to a hold rating in a research report on Saturday, August 10th. Zacks Investment Research lowered shares of Viewray from a hold rating to a sell rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group lowered their price target on shares of Viewray from $14.00 to $7.00 and set a buy rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $11.75.

Shares of VRAY opened at $3.99 on Friday. The company has a market capitalization of $392.94 million, a price-to-earnings ratio of -4.07 and a beta of 0.79. The company has a 50-day moving average of $8.17. Viewray has a fifty-two week low of $2.76 and a fifty-two week high of $10.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.28 and a quick ratio of 3.21.

Viewray (NASDAQ:VRAY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09). The company had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. Viewray had a negative net margin of 128.13% and a negative return on equity of 62.98%. Viewray’s revenue for the quarter was up 83.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) earnings per share. As a group, sell-side analysts expect that Viewray will post -1.01 EPS for the current year.

In other news, CEO Scott William Drake bought 131,260 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $3.81 per share, with a total value of $500,100.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James F. Dempsey sold 21,615 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $8.97, for a total transaction of $193,886.55. The disclosure for this sale can be found here. 15.48% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in VRAY. D. E. Shaw & Co. Inc. increased its stake in shares of Viewray by 204.3% in 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 in the last quarter. Jefferies Group LLC increased its stake in shares of Viewray by 8.0% in the 2nd quarter. Jefferies Group LLC now owns 178,509 shares of the company’s stock valued at $1,573,000 after acquiring an additional 13,209 shares in the last quarter. Bank of America Corp DE increased its stake in Viewray by 7.3% during the 2nd quarter. Bank of America Corp DE now owns 836,766 shares of the company’s stock valued at $7,372,000 after purchasing an additional 56,716 shares in the last quarter. Marshall Wace North America L.P. increased its stake in Viewray by 131.2% during the 2nd quarter. Marshall Wace North America L.P. now owns 577,102 shares of the company’s stock valued at $5,085,000 after purchasing an additional 327,487 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Viewray by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,673,074 shares of the company’s stock valued at $32,359,000 after purchasing an additional 75,466 shares in the last quarter.

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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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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