ViewRay, Inc. (VRAY) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS
ViewRay, Inc. (NASDAQ:VRAY) released its earnings results on Monday. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07), Bloomberg Earnings reports. The company had revenue of $12.20 million during the quarter, compared to analysts’ expectations of $18.63 million. The company’s quarterly revenue was up 2950.0% compared to the same quarter last year.
ViewRay (NASDAQ:VRAY) opened at $8.15 on Tuesday. The company has a debt-to-equity ratio of -2.62, a quick ratio of 1.45 and a current ratio of 1.73. ViewRay has a twelve month low of $2.68 and a twelve month high of $10.39.
Several institutional investors have recently added to or reduced their stakes in VRAY. The Manufacturers Life Insurance Company purchased a new position in shares of ViewRay in the 2nd quarter worth about $159,000. California State Teachers Retirement System raised its holdings in shares of ViewRay by 280.5% in the 2nd quarter. California State Teachers Retirement System now owns 51,819 shares of the company’s stock worth $335,000 after purchasing an additional 38,200 shares during the period. Finally, State Street Corp raised its holdings in shares of ViewRay by 631.7% in the 2nd quarter. State Street Corp now owns 395,418 shares of the company’s stock worth $2,555,000 after purchasing an additional 341,376 shares during the period. Institutional investors own 53.88% of the company’s stock.
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Several research firms recently weighed in on VRAY. Mizuho reiterated a “buy” rating and set a $12.00 target price on shares of ViewRay in a research report on Monday. ValuEngine downgraded ViewRay from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Finally, Aegis restated a “buy” rating and issued a $11.00 price objective on shares of ViewRay in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.00.
ViewRay Company Profile
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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