Viewray (VRAY) Posts Earnings Results, Misses Estimates By $0.17 EPS

Viewray (NASDAQ:VRAY) released its quarterly earnings results on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.17), Briefing.com reports. Viewray had a negative net margin of 83.84% and a negative return on equity of 353.05%. The business had revenue of $17.70 million during the quarter, compared to the consensus estimate of $17.77 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business’s quarterly revenue was up 45.1% compared to the same quarter last year. Viewray updated its FY 2018 guidance to EPS.

VRAY stock traded down $2.12 during midday trading on Friday, reaching $6.63. The stock had a trading volume of 7,094,583 shares, compared to its average volume of 1,088,928. The company has a quick ratio of 2.64, a current ratio of 3.33 and a debt-to-equity ratio of 1.17. The firm has a market cap of $692.65 million, a price-to-earnings ratio of -6.38 and a beta of 1.17. Viewray has a twelve month low of $6.05 and a twelve month high of $13.21.

A number of research analysts recently issued reports on the company. ValuEngine cut Viewray from a “strong-buy” rating to a “buy” rating in a report on Thursday. Robert W. Baird assumed coverage on Viewray in a report on Thursday, October 18th. They issued an “outperform” rating and a $14.00 price target for the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $13.00 price objective on shares of Viewray in a research report on Wednesday, October 3rd. BidaskClub lowered Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $14.00 price objective on shares of Viewray in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $12.79.

In other news, major shareholder Orbimed Advisors Llc sold 185,948 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $9.95, for a total transaction of $1,850,182.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder International Ltd Fosun bought 2,702,702 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were bought at an average price of $9.25 per share, with a total value of $24,999,993.50. The disclosure for this purchase can be found here. 43.93% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of VRAY. Fosun International Ltd grew its position in shares of Viewray by 27.9% during the 2nd quarter. Fosun International Ltd now owns 13,768,556 shares of the company’s stock worth $95,278,000 after buying an additional 3,000,581 shares during the period. FMR LLC grew its position in shares of Viewray by 36.9% during the 2nd quarter. FMR LLC now owns 7,670,767 shares of the company’s stock worth $53,082,000 after buying an additional 2,069,086 shares during the period. BlackRock Inc. grew its position in shares of Viewray by 51.9% during the 3rd quarter. BlackRock Inc. now owns 4,501,045 shares of the company’s stock worth $42,130,000 after buying an additional 1,538,108 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Viewray during the 2nd quarter worth about $6,852,000. Finally, Granite Investment Partners LLC grew its position in shares of Viewray by 1,011.2% during the 3rd quarter. Granite Investment Partners LLC now owns 906,356 shares of the company’s stock worth $8,484,000 after buying an additional 824,791 shares during the period. Institutional investors own 92.45% of the company’s stock.

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About Viewray

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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Earnings History for Viewray (NASDAQ:VRAY)

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