Wall Street analysts predict that Viewray Inc (NASDAQ:VRAY) will report $9.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Viewray’s earnings, with the highest sales estimate coming in at $9.90 million and the lowest estimate coming in at $8.41 million. Viewray reported sales of $20.86 million in the same quarter last year, which indicates a negative year-over-year growth rate of 56.1%. The business is expected to report its next quarterly earnings report on Tuesday, November 10th.
According to Zacks, analysts expect that Viewray will report full-year sales of $53.31 million for the current fiscal year, with estimates ranging from $48.86 million to $59.48 million. For the next year, analysts forecast that the company will report sales of $84.03 million, with estimates ranging from $70.60 million to $92.26 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Viewray.
Viewray (NASDAQ:VRAY) last issued its earnings results on Thursday, July 30th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The business had revenue of $14.22 million for the quarter, compared to the consensus estimate of $5.81 million. Viewray had a negative net margin of 166.74% and a negative return on equity of 63.41%.
Several analysts have commented on VRAY shares. BTIG Research reiterated a “hold” rating on shares of Viewray in a research report on Wednesday, June 3rd. BidaskClub cut shares of Viewray from a “hold” rating to a “sell” rating in a research report on Friday, August 28th. Zacks Investment Research upgraded shares of Viewray from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Saturday, May 9th. Oppenheimer restated a “buy” rating and issued a $3.00 price objective on shares of Viewray in a research report on Tuesday, June 23rd. Finally, Cantor Fitzgerald started coverage on shares of Viewray in a research report on Monday, June 15th. They issued a “buy” rating and a $3.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.19.
A number of hedge funds and other institutional investors have recently made changes to their positions in VRAY. Principal Financial Group Inc. raised its holdings in Viewray by 221.8% in the 2nd quarter. Principal Financial Group Inc. now owns 46,256 shares of the company’s stock valued at $103,000 after acquiring an additional 31,880 shares during the period. Nuveen Asset Management LLC raised its holdings in Viewray by 25.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 415,223 shares of the company’s stock valued at $930,000 after acquiring an additional 83,740 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Viewray by 12.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 729,011 shares of the company’s stock worth $1,633,000 after purchasing an additional 79,583 shares during the period. Jane Street Group LLC increased its holdings in shares of Viewray by 38.8% during the second quarter. Jane Street Group LLC now owns 22,944 shares of the company’s stock worth $51,000 after purchasing an additional 6,410 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Viewray by 145.7% during the second quarter. Bank of America Corp DE now owns 69,840 shares of the company’s stock worth $157,000 after purchasing an additional 41,411 shares during the period. 83.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Viewray stock traded up $0.02 on Tuesday, hitting $2.78. 589,520 shares of the company’s stock traded hands, compared to its average volume of 821,715. The firm’s 50-day moving average price is $2.78 and its two-hundred day moving average price is $2.38. The stock has a market capitalization of $411.29 million, a PE ratio of -3.12 and a beta of 0.78. Viewray has a one year low of $1.11 and a one year high of $4.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.90 and a quick ratio of 3.19.
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.
Featured Article: What member countries make up the G-20?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Viewray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viewray and related companies with MarketBeat.com's FREE daily email newsletter.