A number of other research analysts have also weighed in on VRAY. BTIG Research reissued a buy rating and set a $10.00 target price on shares of ViewRay in a research report on Wednesday, May 17th. ValuEngine upgraded shares of ViewRay from a sell rating to a hold rating in a report on Friday, June 2nd. Northland Securities restated a buy rating and set a $7.00 price objective on shares of ViewRay in a report on Tuesday, May 16th. Finally, Cantor Fitzgerald assumed coverage on shares of ViewRay in a report on Thursday, June 29th. They set an overweight rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $9.50.
Shares of ViewRay (VRAY) traded up 0.19% during midday trading on Friday, hitting $5.30. The company had a trading volume of 405,244 shares. The company has a 50-day moving average of $5.65 and a 200 day moving average of $6.25. The firm’s market capitalization is $312.74 million. ViewRay has a 12 month low of $2.64 and a 12 month high of $10.39.
ViewRay (NASDAQ:VRAY) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.02. The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.68 million. The company’s revenue was up 133.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) earnings per share. On average, analysts expect that ViewRay will post ($0.81) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in ViewRay by 843.2% in the second quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock worth $107,000 after buying an additional 14,789 shares during the period. HighTower Advisors LLC raised its position in ViewRay by 5.0% in the second quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock worth $135,000 after buying an additional 1,000 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of ViewRay during the second quarter worth about $159,000. Highbridge Capital Management LLC bought a new position in shares of ViewRay during the first quarter worth about $167,000. Finally, Boston Financial Mangement LLC bought a new position in shares of ViewRay during the first quarter worth about $170,000. Hedge funds and other institutional investors own 48.69% of the company’s stock.
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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