Pennsylvania Trust Co lowered its stake in Viewray Inc (NASDAQ:VRAY) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,641 shares of the company’s stock after selling 7,800 shares during the quarter. Pennsylvania Trust Co’s holdings in Viewray were worth $341,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Viewray by 4.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 74,440 shares of the company’s stock valued at $550,000 after buying an additional 3,090 shares in the last quarter. Marshall Wace LLP grew its stake in Viewray by 47.1% in the first quarter. Marshall Wace LLP now owns 131,179 shares of the company’s stock worth $970,000 after purchasing an additional 42,015 shares during the period. Marshall Wace North America L.P. purchased a new stake in Viewray in the first quarter worth $1,844,000. Gilder Gagnon Howe & Co. LLC grew its stake in Viewray by 3.0% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 587,784 shares of the company’s stock worth $4,344,000 after purchasing an additional 17,259 shares during the period. Finally, Falcon Point Capital LLC grew its stake in Viewray by 43.3% in the second quarter. Falcon Point Capital LLC now owns 25,556 shares of the company’s stock worth $225,000 after purchasing an additional 7,722 shares during the period.
In related news, insider James F. Dempsey sold 279,414 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.57, for a total transaction of $997,507.98. Following the completion of the sale, the insider now owns 272,433 shares in the company, valued at $972,585.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James F. Dempsey sold 21,615 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $8.97, for a total value of $193,886.55. The disclosure for this sale can be found here. Company insiders own 15.48% of the company’s stock.
VRAY has been the topic of several recent research 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. Piper Jaffray Companies began coverage on Viewray in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $15.00 price target for the company. BidaskClub cut Viewray from a “sell” rating to a “strong sell” rating in a research report on Friday, September 13th. Mizuho set a $9.00 price target on Viewray and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group cut their target price on Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Viewray presently has an average rating of “Buy” and an average price target of $9.55.
NASDAQ:VRAY opened at $2.45 on Friday. The company has a current ratio of 4.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.55. Viewray Inc has a 12-month low of $2.12 and a 12-month high of $10.02. The stock has a 50-day moving average price of $3.43 and a 200 day moving average price of $6.80. The stock has a market capitalization of $226.51 million, a P/E ratio of -2.50 and a beta of 1.02.
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 consensus estimate of ($0.23) by ($0.09). Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. The business had revenue of $30.17 million for the quarter, compared to analysts’ expectations of $25.92 million. During the same quarter in the prior year, the business posted ($0.30) EPS. The business’s revenue for the quarter was up 83.5% compared to the same quarter last year. On average, research analysts predict that Viewray Inc will post -1.18 earnings per share for the current fiscal year.
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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