Viewray (NASDAQ:VRAY) had its target price lowered by Jefferies Financial Group from $14.00 to $7.00 in a research report report published on Friday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Several other research analysts have also issued reports on VRAY. Cantor Fitzgerald set a $13.00 target price on Viewray and gave the stock a buy rating in a research report on Tuesday, May 28th. Piper Jaffray Companies began coverage on Viewray in a research report on Tuesday, June 18th. They issued an overweight rating and a $15.00 target price for the company. Mizuho reissued a buy rating and issued a $12.00 target price on shares of Viewray in a research report on Wednesday, July 17th. Zacks Investment Research lowered Viewray from a hold rating to a sell rating in a research report on Friday. Finally, TheStreet downgraded Viewray from a c- rating to a d rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $11.95.
Shares of NASDAQ:VRAY opened at $3.47 on Friday. Viewray has a 52-week low of $2.76 and a 52-week high of $10.73. The company has a market cap of $653.46 million, a price-to-earnings ratio of -3.54 and a beta of 0.79. The stock has a 50 day moving average price of $8.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.28 and a quick ratio of 3.21.
Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Viewray had a negative return on equity of 62.98% and a negative net margin of 128.13%. The firm had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. During the same period in the prior year, the company posted ($0.30) EPS. The firm’s revenue was up 83.5% on a year-over-year basis. On average, analysts forecast that Viewray will post -1.01 earnings per share for the current fiscal year.
In related news, insider James F. Dempsey sold 21,615 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $8.97, for a total value of $193,886.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James F. Dempsey sold 5,146 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $8.63, for a total value of $44,409.98. The disclosure for this sale can be found here. Corporate insiders own 15.48% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. King Luther Capital Management Corp increased its position in shares of Viewray by 49.6% during the second quarter. King Luther Capital Management Corp now owns 347,890 shares of the company’s stock worth $3,065,000 after purchasing an additional 115,385 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Viewray by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 336,089 shares of the company’s stock worth $2,961,000 after purchasing an additional 46,115 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Viewray by 6.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 361,700 shares of the company’s stock worth $3,187,000 after purchasing an additional 23,227 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Viewray by 4,390.1% during the second quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock valued at $52,000 after buying an additional 5,751 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Viewray by 1.3% during the second quarter. Allianz Asset Management GmbH now owns 454,987 shares of the company’s stock valued at $4,008,000 after buying an additional 6,045 shares during the last quarter.
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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