BidaskClub upgraded shares of Viewray (NASDAQ:VRAY) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

A number of other research analysts also recently commented on VRAY. Zacks Investment Research raised shares of Viewray from a sell rating to a hold rating in a research report on Friday, August 16th. 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 target price on the stock. Mizuho set a $9.00 target price on shares of Viewray and gave the company a buy rating in a research report on Monday, September 30th. Jefferies Financial Group dropped their target price 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. Finally, Cantor Fitzgerald set a $6.00 price target on shares of Viewray and gave the stock a buy rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $9.55.

Shares of NASDAQ VRAY traded up $0.11 during mid-day trading on Wednesday, reaching $2.65. The company had a trading volume of 37,706 shares, compared to its average volume of 2,040,126. The company has a current ratio of 4.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $3.28 and a two-hundred day simple moving average of $6.67. The stock has a market cap of $253.09 million, a P/E ratio of -2.71 and a beta of 1.02. Viewray has a 52-week low of $2.12 and a 52-week high of $10.02.

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

In related news, insider James F. Dempsey sold 21,615 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $8.97, for a total transaction of $193,886.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James F. Dempsey sold 279,414 shares of the 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 sale, the insider now owns 272,433 shares of the company’s stock, valued at approximately $972,585.81. The disclosure for this sale can be found here. 15.48% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in Viewray by 587.8% during the 3rd quarter. Allworth Financial LP now owns 32,594 shares of the company’s stock worth $95,000 after purchasing an additional 27,855 shares during the period. River & Mercantile Asset Management LLP acquired a new stake in shares of Viewray in the 2nd quarter worth $1,489,000. Park West Asset Management LLC lifted 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 worth $67,091,000 after acquiring an additional 3,549,255 shares during the period. Perceptive Advisors LLC lifted 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 worth $48,061,000 after acquiring an additional 649,593 shares during the period. Finally, Bamco Inc. NY lifted 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 worth $16,526,000 after acquiring 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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