Viewray (VRAY) Announces Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Viewray (NASDAQ:VRAY) posted its earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.17), Briefing.com reports. Viewray had a negative return on equity of 353.05% and a negative net margin of 83.84%. The firm had revenue of $17.70 million for the quarter, compared to analyst estimates of $17.77 million. During the same period in the previous year, the company posted ($0.19) EPS. Viewray’s revenue was up 45.1% on a year-over-year basis. Viewray updated its FY 2018 guidance to EPS.

VRAY stock traded down $2.12 during mid-day trading on Friday, reaching $6.63. The company had a trading volume of 7,094,633 shares, compared to its average volume of 1,038,098. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.33 and a quick ratio of 2.64. The firm has a market capitalization of $710.70 million, a P/E ratio of -6.38 and a beta of 1.17. Viewray has a fifty-two week low of $6.05 and a fifty-two week high of $13.21.

VRAY has been the topic of several research reports. ValuEngine raised Viewray from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 24th. BidaskClub raised Viewray from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Cantor Fitzgerald reissued a “buy” rating and set a $13.00 target price on shares of Viewray in a research note on Wednesday, October 3rd. Mizuho reissued a “buy” rating and set a $13.00 target price on shares of Viewray in a research note on Monday, August 6th. Finally, BTIG Research reissued a “buy” rating and set a $14.00 target price on shares of Viewray in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $12.79.

In other Viewray news, major shareholder Orbimed Advisors Llc sold 521,607 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $9.95, for a total value of $5,189,989.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder International Ltd Fosun purchased 2,702,702 shares of Viewray stock in a transaction on Thursday, August 30th. The stock was bought at an average cost of $9.25 per share, for a total transaction of $24,999,993.50. The disclosure for this purchase can be found here. 43.93% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of VRAY. Bank of America Corp DE raised its position in Viewray by 209.7% in the 2nd quarter. Bank of America Corp DE now owns 14,710 shares of the company’s stock valued at $101,000 after purchasing an additional 9,960 shares in the last quarter. Sei Investments Co. acquired a new stake in Viewray in the 2nd quarter valued at about $121,000. Metropolitan Life Insurance Co. NY acquired a new stake in Viewray in the 2nd quarter valued at about $124,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Viewray in the 2nd quarter valued at about $131,000. Finally, Voya Investment Management LLC increased its holdings in shares of Viewray by 39.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,006 shares of the company’s stock valued at $132,000 after acquiring an additional 5,364 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors.

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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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Earnings History for Viewray (NASDAQ:VRAY)

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