Zacks Investment Research Weighs in on ViewRay, Inc.’s Q3 2017 Earnings (NASDAQ:VRAY)
ViewRay, Inc. (NASDAQ:VRAY) – Investment analysts at Zacks Investment Research raised their Q3 2017 EPS estimates for ViewRay in a research note issued on Wednesday. Zacks Investment Research analyst A. Dushyanth now forecasts that the company will earn ($0.11) per share for the quarter, up from their previous forecast of ($0.15). Zacks Investment Research also issued estimates for ViewRay’s Q4 2017 earnings at ($0.07) EPS and FY2018 earnings at ($0.11) EPS.
ViewRay (NASDAQ:VRAY) last posted its 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 analyst estimates of $0.68 million. The business’s revenue for the quarter was up 133.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. WARNING: “Zacks Investment Research Weighs in on ViewRay, Inc.’s Q3 2017 Earnings (NASDAQ:VRAY)” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/11/zacks-investment-research-weighs-in-on-viewray-inc-s-q3-2017-earnings-nasdaqvray.html.
A number of other equities research analysts also recently commented on the company. Aegis reaffirmed a “buy” rating and set a $11.00 target price on shares of ViewRay in a report on Tuesday, May 16th. ValuEngine downgraded ViewRay from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Cantor Fitzgerald initiated coverage on ViewRay in a report on Thursday, June 29th. They set an “overweight” rating and a $10.00 target price for the company. Northland Securities reaffirmed a “buy” rating and set a $7.00 target price on shares of ViewRay in a report on Tuesday, May 16th. Finally, BTIG Research reaffirmed a “buy” rating and set a $10.00 target price on shares of ViewRay in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $9.50.
ViewRay (VRAY) opened at 5.45 on Friday. The company’s market cap is $321.59 million. ViewRay has a 1-year low of $2.64 and a 1-year high of $10.39. The firm’s 50-day moving average is $5.81 and its 200 day moving average is $6.25.
Large investors have recently added to or reduced their stakes in the company. FIL Ltd purchased a new stake in ViewRay during the first quarter worth approximately $6,348,000. Next Century Growth Investors LLC purchased a new stake in ViewRay during the first quarter worth approximately $2,987,000. TIAA CREF Investment Management LLC increased its stake in ViewRay by 2,447.3% in the second quarter. TIAA CREF Investment Management LLC now owns 286,365 shares of the company’s stock worth $1,853,000 after buying an additional 275,123 shares during the period. Russell Investments Group Ltd. purchased a new stake in ViewRay during the second quarter worth approximately $1,361,000. Finally, EAM Investors LLC purchased a new stake in ViewRay during the first quarter worth approximately $1,612,000. 49.56% of the stock is owned by hedge funds and other 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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