Zacks Investment Research downgraded shares of IsoRay (NYSEAMERICAN:ISR) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “IsoRay, Inc. is a medical technology company that produces therapeutic radioactive isotopes. Through its subsidiary, IsoRay Medical, Inc., develops, manufactures and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases. The Company is engaged in the production and sales of Cesium-131 (Cs-131) brachytherapy seeds. Brachytherapy seeds are small devices containing a therapeutic dose of radiation used in an interstitial radiation procedure. The brachytherapy procedure places radioactive seeds as close as possible to (in or near) the cancerous tumor. The Cs-131 includes radioisotope in the treatment of all malignant tumors, such as prostate cancer, brain cancer, breast cancer, colorectal cancer, gynecological cancer, lung cancer, liver cancer, ocular melanoma and pancreatic cancer. The Company’s Proxcelan Cesium-131 seed is classified as a Class II device. The Company competes with Varian Medical Systems, Siemens Healthcare, Elekta AB and Accuray Incorporated. “

A number of other brokerages have also weighed in on ISR. Maxim Group lowered IsoRay from a buy rating to a hold rating in a research note on Friday, November 9th. HC Wainwright set a $1.00 target price on IsoRay and gave the stock a hold rating in a research note on Tuesday, November 13th.

ISR opened at $0.39 on Wednesday. IsoRay has a 12-month low of $0.27 and a 12-month high of $1.22.

IsoRay (NYSEAMERICAN:ISR) last announced its earnings results on Tuesday, February 12th. The healthcare company reported ($0.02) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.02). The firm had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Highland Private Wealth Management bought a new position in shares of IsoRay during the fourth quarter worth approximately $39,000. Vanguard Group Inc increased its stake in shares of IsoRay by 24.7% during the third quarter. Vanguard Group Inc now owns 1,857,268 shares of the healthcare company’s stock worth $964,000 after purchasing an additional 367,324 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of IsoRay by 24.7% during the third quarter. Vanguard Group Inc. now owns 1,857,268 shares of the healthcare company’s stock worth $964,000 after purchasing an additional 367,324 shares during the period.

IsoRay Company Profile

IsoRay, Inc, through its subsidiary, IsoRay Medical, Inc, develops, manufactures, and sells isotope-based medical products and devices for the treatment of cancer and other malignant diseases in the United States. The company produces CS-1 Cesium-131 brachytherapy seeds for the treatment of prostate, brain, lung, head and neck, gynecological, pelvic/abdominal, and colorectal cancers, as well as ocular melanoma.

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