Shares of ViewRay, Inc. (NASDAQ:VRAY) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.
Several research analysts have issued reports on VRAY shares. Mizuho restated a “buy” rating and issued a $12.00 price target on shares of ViewRay in a research report on Wednesday, October 25th. Aegis restated a “buy” rating and issued a $11.00 price target on shares of ViewRay in a research report on Saturday, July 22nd. Finally, ValuEngine lowered shares of ViewRay from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd.
ViewRay (NASDAQ:VRAY) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.02). The business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.68 million. The business’s revenue was up 133.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRAY. Nationwide Fund Advisors grew its position in ViewRay by 843.2% during the 2nd quarter. Nationwide Fund Advisors now owns 16,543 shares of the company’s stock worth $107,000 after purchasing an additional 14,789 shares in the last quarter. HighTower Advisors LLC grew its position in ViewRay by 5.0% during the 2nd quarter. HighTower Advisors LLC now owns 21,000 shares of the company’s stock worth $135,000 after purchasing an additional 1,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in ViewRay during the 2nd quarter worth approximately $159,000. Highbridge Capital Management LLC purchased a new position in ViewRay during the 1st quarter worth approximately $167,000. Finally, White Pine Capital LLC purchased a new position in ViewRay during the 2nd quarter worth approximately $173,000. Hedge funds and other institutional investors own 53.70% of the company’s stock.
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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