ViewRay (VRAY) Rating Lowered to Sell at ValuEngine

ViewRay (NASDAQ:VRAY) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other equities research analysts also recently issued reports on the stock. Mizuho reiterated a “buy” rating and set a $12.00 price objective on shares of ViewRay in a research note on Wednesday, October 25th. Northland Securities reiterated a “buy” rating and set a $10.00 price objective on shares of ViewRay in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. ViewRay currently has a consensus rating of “Buy” and an average price target of $10.60.

Shares of ViewRay (NASDAQ:VRAY) opened at $9.90 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.59 and a debt-to-equity ratio of -1.67. ViewRay has a 52 week low of $3.01 and a 52 week high of $10.39.

ViewRay (NASDAQ:VRAY) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $12.20 million for the quarter, compared to the consensus estimate of $18.63 million. The firm’s quarterly revenue was up 2950.0% compared to the same quarter last year. research analysts expect that ViewRay will post -0.91 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors boosted its stake in shares of ViewRay by 843.2% in the second quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock valued at $107,000 after purchasing an additional 14,789 shares during the period. HighTower Advisors LLC boosted its stake in shares of ViewRay by 5.0% in the second quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock valued at $135,000 after purchasing an additional 1,000 shares during the period. UBS Group AG boosted its stake in shares of ViewRay by 447.7% in the first quarter. UBS Group AG now owns 22,479 shares of the company’s stock valued at $192,000 after purchasing an additional 18,375 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of ViewRay in the second quarter valued at $159,000. Finally, White Pine Capital LLC purchased a new position in shares of ViewRay in the second quarter valued at $173,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

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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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