Zacks: Analysts Expect Viewray Inc (VRAY) Will Post Quarterly Sales of $21.77 Million

Equities analysts expect that Viewray Inc (NASDAQ:VRAY) will announce $21.77 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Viewray’s earnings, with the highest sales estimate coming in at $28.70 million and the lowest estimate coming in at $18.82 million. Viewray posted sales of $19.92 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The firm is scheduled to issue its next quarterly earnings report on Monday, March 11th.

According to Zacks, analysts expect that Viewray will report full-year sales of $80.18 million for the current fiscal year, with estimates ranging from $79.12 million to $81.53 million. For the next fiscal year, analysts anticipate that the business will report sales of $139.10 million, with estimates ranging from $125.80 million to $159.42 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Viewray.

Viewray (NASDAQ:VRAY) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.17). The company had revenue of $17.70 million during the quarter, compared to the consensus estimate of $17.77 million. Viewray had a negative net margin of 105.09% and a negative return on equity of 105.63%. Viewray’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.19) earnings per share.

Several brokerages have recently weighed in on VRAY. ValuEngine lowered shares of Viewray from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 8th. Robert W. Baird began coverage on shares of Viewray in a research report on Thursday, October 18th. They issued an “outperform” rating and a $14.00 price objective on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $13.00 price objective on shares of Viewray in a research report on Wednesday, October 3rd. BidaskClub lowered shares of Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, BTIG Research reissued a “buy” rating and issued a $14.00 price objective on shares of Viewray in a research report on Tuesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Viewray has an average rating of “Buy” and an average price target of $13.25.

In other Viewray news, CEO Scott William Drake purchased 60,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average cost of $6.47 per share, with a total value of $388,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shahriar Matin purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average cost of $6.47 per share, for a total transaction of $161,750.00. The disclosure for this purchase can be found here. 43.93% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in VRAY. Perceptive Advisors LLC increased its position in Viewray by 4,833.3% during the third quarter. Perceptive Advisors LLC now owns 3,700,000 shares of the company’s stock worth $34,632,000 after acquiring an additional 3,625,000 shares during the period. Fosun International Ltd increased its position in Viewray by 27.9% during the second quarter. Fosun International Ltd now owns 13,768,556 shares of the company’s stock worth $95,278,000 after acquiring an additional 3,000,581 shares during the period. HealthCor Management L.P. bought a new position in Viewray during the third quarter worth about $23,609,000. FMR LLC increased its position in Viewray by 36.9% during the second quarter. FMR LLC now owns 7,670,767 shares of the company’s stock worth $53,082,000 after acquiring an additional 2,069,086 shares during the period. Finally, BlackRock Inc. increased its position in Viewray by 51.9% during the third quarter. BlackRock Inc. now owns 4,501,045 shares of the company’s stock worth $42,130,000 after acquiring an additional 1,538,108 shares during the period. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of VRAY traded down $0.55 during trading hours on Friday, hitting $6.43. The company had a trading volume of 20,535 shares, compared to its average volume of 1,560,316. The firm has a market capitalization of $642.35 million, a PE ratio of -6.22 and a beta of 1.12. Viewray has a 12 month low of $5.80 and a 12 month high of $13.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.47 and a quick ratio of 5.56.

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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