Russell Investments Group Ltd. Increases Stake in Viewray Inc (VRAY)

Russell Investments Group Ltd. lifted its stake in shares of Viewray Inc (NASDAQ:VRAY) by 46.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 605,262 shares of the company’s stock after purchasing an additional 192,637 shares during the period. Russell Investments Group Ltd. owned approximately 0.80% of Viewray worth $5,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VRAY. Bank of America Corp DE lifted its position in shares of Viewray by 209.7% during the second quarter. Bank of America Corp DE now owns 14,710 shares of the company’s stock worth $101,000 after purchasing an additional 9,960 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Viewray during the second quarter worth approximately $121,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Viewray during the second quarter worth approximately $124,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Viewray during the second quarter worth approximately $131,000. Finally, Voya Investment Management LLC lifted its position in shares of Viewray by 39.3% during the second quarter. Voya Investment Management LLC now owns 19,006 shares of the company’s stock worth $132,000 after purchasing an additional 5,364 shares in the last quarter.

In other Viewray news, COO Shahriar Matin acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average cost of $6.47 per share, for a total transaction of $161,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott William Drake acquired 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $6.47 per share, for a total transaction of $388,200.00. The disclosure for this purchase can be found here. Insiders purchased 2,787,702 shares of company stock worth $25,549,944 over the last 90 days. 43.93% of the stock is currently owned by company insiders.

Shares of NASDAQ VRAY opened at $6.70 on Friday. Viewray Inc has a fifty-two week low of $5.80 and a fifty-two week high of $13.21. The company has a market capitalization of $641.39 million, a P/E ratio of -6.44 and a beta of 1.17. The company has a current ratio of 6.47, a quick ratio of 5.56 and a debt-to-equity ratio of 0.25.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.17). Viewray had a negative net margin of 105.09% and a negative return on equity of 105.63%. The business had revenue of $17.70 million during the quarter, compared to analyst estimates of $17.77 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was up 45.1% on a year-over-year basis. Research analysts predict that Viewray Inc will post -0.87 EPS for the current fiscal year.

A number of brokerages have recently issued reports on VRAY. BidaskClub lowered shares of Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Mizuho restated a “buy” rating and issued a $13.00 price objective on shares of Viewray in a report on Monday, August 6th. ValuEngine lowered shares of Viewray from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 8th. BTIG Research restated a “buy” rating and issued a $14.00 price objective on shares of Viewray in a report on Tuesday, August 7th. Finally, Robert W. Baird assumed coverage on shares of Viewray in a report on Thursday, October 18th. They issued an “outperform” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Viewray presently has an average rating of “Buy” and a consensus target price of $13.25.

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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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Institutional Ownership by Quarter for Viewray (NASDAQ:VRAY)

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