Equities research analysts expect ViewRay, Inc. (NASDAQ:VRAY) to report $18.50 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for ViewRay’s earnings. The lowest sales estimate is $18.10 million and the highest is $18.90 million. ViewRay posted sales of $360,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 5,038.9%. The business is expected to announce its next earnings results on Monday, November 13th.
According to Zacks, analysts expect that ViewRay will report full year sales of $18.50 million for the current year, with estimates ranging from $46.00 million to $49.58 million. For the next fiscal year, analysts expect that the firm will post sales of $96.91 million per share, with estimates ranging from $74.72 million to $119.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ViewRay.
ViewRay (NASDAQ:VRAY) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.02). The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.68 million. The business’s revenue was up 133.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.32) EPS.
VRAY has been the subject of a number of recent research reports. Mizuho reiterated a “buy” rating and set a $12.00 price objective on shares of ViewRay in a research note on Wednesday, October 25th. Aegis restated a “buy” rating and issued a $11.00 price target on shares of ViewRay in a research note on Saturday, July 22nd. Finally, ValuEngine lowered ViewRay from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $10.00.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of ViewRay by 67.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,026,880 shares of the company’s stock valued at $6,644,000 after purchasing an additional 411,866 shares in the last quarter. State Street Corp boosted its holdings in ViewRay by 631.7% in the 2nd quarter. State Street Corp now owns 395,418 shares of the company’s stock worth $2,555,000 after buying an additional 341,376 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in ViewRay by 2,447.3% in the 2nd 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 during the last quarter. Russell Investments Group Ltd. acquired a new stake in ViewRay in the 2nd quarter worth about $1,361,000. Finally, EAM Investors LLC boosted its holdings in ViewRay by 7.0% in the 2nd quarter. EAM Investors LLC now owns 202,713 shares of the company’s stock worth $1,312,000 after buying an additional 13,243 shares during the last quarter. Hedge funds and other institutional investors own 53.70% of the company’s stock.
Shares of ViewRay (VRAY) opened at 6.89 on Wednesday. The company’s market capitalization is $406.56 million. ViewRay has a 12 month low of $2.67 and a 12 month high of $10.39. The stock has a 50 day moving average price of $6.15 and a 200-day moving average price of $6.15.
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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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