Aegis Reiterates “Buy” Rating for ViewRay, Inc. (NASDAQ:VRAY)

Aegis restated their buy rating on shares of ViewRay, Inc. (NASDAQ:VRAY) in a research report sent to investors on Saturday, July 22nd. The firm currently has a $11.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. BTIG Research reiterated a buy rating and set a $10.00 price objective on shares of ViewRay in a report on Wednesday, May 17th. Northland Securities reiterated a buy rating and set a $7.00 price objective on shares of ViewRay in a report on Tuesday, May 16th. ValuEngine upgraded shares of ViewRay from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of ViewRay in a report on Thursday, June 29th. They issued an overweight rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $9.50.

ViewRay (NASDAQ:VRAY) opened at 5.49 on Friday. The firm’s 50-day moving average price is $5.78 and its 200-day moving average price is $6.25. The company’s market cap is $323.95 million. ViewRay has a 12-month low of $2.64 and a 12-month high of $10.39.

ViewRay (NASDAQ:VRAY) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.26) earnings per share 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 analysts’ expectations of $0.68 million. During the same quarter in the prior year, the company earned ($0.32) EPS. The company’s revenue for the quarter was up 133.3% on a year-over-year basis. Equities research analysts forecast that ViewRay will post ($0.91) earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of the company. FIL Ltd acquired a new stake in ViewRay during the first quarter worth $6,348,000. Vanguard Group Inc. raised its stake in ViewRay by 67.0% in the second quarter. Vanguard Group Inc. now owns 1,026,880 shares of the company’s stock worth $6,644,000 after buying an additional 411,866 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in ViewRay during the first quarter worth $2,987,000. TIAA CREF Investment Management LLC raised its stake in ViewRay by 2,447.3% in the second quarter. TIAA CREF Investment Management LLC now owns 286,365 shares of the company’s stock worth $1,853,000 after buying an additional 275,123 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of ViewRay during the second quarter worth about $1,361,000. Institutional investors own 49.56% of the company’s stock.

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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