Viewray (VRAY) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Viewray (NASDAQ:VRAY) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other research firms have also commented on VRAY. Mizuho restated a buy rating and set a $12.00 price target on shares of Viewray in a research report on Wednesday, October 25th. Northland Securities restated a buy rating and set a $10.00 price target on shares of Viewray in a research report on Friday, November 17th. Finally, ValuEngine lowered shares of Viewray from a hold rating to a sell rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $10.60.

Shares of Viewray (VRAY) traded down $0.05 during trading on Friday, hitting $8.77. 114,352 shares of the company traded hands, compared to its average volume of 1,059,955. The company has a debt-to-equity ratio of -1.67, a current ratio of 1.59 and a quick ratio of 1.20. Viewray has a 12-month low of $3.01 and a 12-month high of $10.39.

Viewray (NASDAQ:VRAY) last issued its earnings results on Monday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The company had revenue of $12.20 million for the quarter, compared to analysts’ expectations of $18.63 million. Viewray’s revenue was up 2950.0% on a year-over-year basis. equities analysts anticipate that Viewray will post -0.93 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in VRAY. Geode Capital Management LLC grew its position in Viewray by 158.7% during the first quarter. Geode Capital Management LLC now owns 149,463 shares of the company’s stock valued at $1,271,000 after buying an additional 91,694 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Viewray during the first quarter valued at $484,000. Russell Investments Group Ltd. acquired a new stake in Viewray during the second quarter valued at $1,361,000. Schwab Charles Investment Management Inc. acquired a new stake in Viewray during the second quarter valued at $323,000. Finally, Rhumbline Advisers acquired a new stake in Viewray during the second quarter valued at $193,000. Institutional investors own 50.08% of the company’s stock.

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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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