ViewRay, Inc. (VRAY) Announces Earnings Results, Misses Estimates By $0.02 EPS
ViewRay, Inc. (NASDAQ:VRAY) posted its quarterly earnings data on Monday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.02, Morningstar.com reports. The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.68 million. During the same period in the prior year, the firm posted ($0.32) EPS. The firm’s revenue for the quarter was up 133.3% compared to the same quarter last year.
ViewRay (VRAY) traded up 8.57% during trading on Tuesday, reaching $5.70. The company had a trading volume of 1,566,900 shares. ViewRay has a 52 week low of $2.64 and a 52 week high of $10.39. The company’s 50-day moving average is $6.03 and its 200 day moving average is $6.22. The firm’s market capitalization is $327.08 million.
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A number of research firms recently issued reports on VRAY. BTIG Research restated a “buy” rating and set a $10.00 price objective on shares of ViewRay in a report on Wednesday, May 17th. ValuEngine upgraded ViewRay from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Aegis restated a “buy” rating and set a $11.00 price objective on shares of ViewRay in a report on Saturday, July 22nd. Northland Securities restated a “buy” rating and set a $7.00 price objective on shares of ViewRay in a report on Tuesday, May 16th. Finally, Cantor Fitzgerald began coverage on ViewRay in a report on Thursday, June 29th. They set an “overweight” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $9.50.
Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of ViewRay during the first quarter worth about $177,000. Sequoia Financial Advisors LLC increased its stake in shares of ViewRay by 25.0% in the first quarter. Sequoia Financial Advisors LLC now owns 25,000 shares of the company’s stock worth $213,000 after buying an additional 5,000 shares during the period. Bank of New York Mellon Corp increased its stake in shares of ViewRay by 327.2% in the first quarter. Bank of New York Mellon Corp now owns 44,372 shares of the company’s stock worth $377,000 after buying an additional 33,985 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of ViewRay during the first quarter worth about $669,000. Finally, TFS Capital LLC acquired a new stake in shares of ViewRay during the first quarter worth about $251,000. 49.56% of the stock is owned by institutional investors.
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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