Brokerages Expect Viewray Inc (NASDAQ:VRAY) to Post -$0.27 EPS

Equities analysts expect that Viewray Inc (NASDAQ:VRAY) will announce earnings per share (EPS) of ($0.27) for the current quarter, Zacks reports. Two analysts have issued estimates for Viewray’s earnings, with the lowest EPS estimate coming in at ($0.34) and the highest estimate coming in at ($0.21). Viewray reported earnings per share of ($0.25) in the same quarter last year, which would suggest a negative year-over-year growth rate of 8%. The business is expected to issue its next earnings report after the market closes on Tuesday, November 12th.

On average, analysts expect that Viewray will report full year earnings of ($1.19) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($1.10). For the next year, analysts forecast that the company will post earnings of ($0.91) per share, with EPS estimates ranging from ($1.11) to ($0.65). Zacks’ EPS averages are an average based on a survey of analysts that cover Viewray.

Viewray (NASDAQ:VRAY) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.09). The company had revenue of $30.17 million during the quarter, compared to analysts’ expectations of $25.92 million. Viewray had a negative net margin of 128.13% and a negative return on equity of 67.02%. The company’s revenue for the quarter was up 83.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share.

VRAY has been the topic of several research analyst reports. Morgan Stanley set a $5.00 price target on Viewray and gave the stock a “hold” rating in a research note on Monday, August 12th. Jefferies Financial Group decreased their price target on Viewray from $14.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. ValuEngine lowered Viewray from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Mizuho set a $9.00 price target on Viewray and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Oppenheimer initiated coverage on Viewray in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Viewray has an average rating of “Buy” and an average price target of $7.30.

In related news, insider James F. Dempsey sold 279,414 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.57, for a total value of $997,507.98. Following the sale, the insider now owns 272,433 shares of the company’s stock, valued at approximately $972,585.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Shahriar Matin bought 60,000 shares of Viewray stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $4.02 per share, for a total transaction of $241,200.00. The disclosure for this purchase can be found here. 15.48% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Kahn Brothers Group Inc. DE increased its holdings in Viewray by 202.0% in the 3rd quarter. Kahn Brothers Group Inc. DE now owns 339,800 shares of the company’s stock valued at $985,000 after purchasing an additional 227,300 shares in the last quarter. Parallel Advisors LLC acquired a new stake in Viewray in the 3rd quarter valued at $125,000. Russell Investments Group Ltd. increased its holdings in Viewray by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 129,961 shares of the company’s stock valued at $378,000 after purchasing an additional 12,808 shares in the last quarter. Usca Ria LLC acquired a new stake in Viewray in the 3rd quarter valued at $28,000. Finally, Raymond James Trust N.A. acquired a new stake in Viewray in the 3rd quarter valued at $86,000.

NASDAQ:VRAY traded up $0.05 during midday trading on Thursday, reaching $2.70. The company had a trading volume of 754,600 shares, compared to its average volume of 1,518,411. The company has a current ratio of 4.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.55. The stock’s fifty day simple moving average is $2.75 and its 200-day simple moving average is $6.10. Viewray has a 12-month low of $2.12 and a 12-month high of $9.76. The firm has a market capitalization of $274.76 million, a price-to-earnings ratio of -2.76 and a beta of 1.00.

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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