“We reiterate our OW rating and 12-month PT of $13 on VRAY. VRAY has succeeded in bringing an MRI linear accelerator (linac) to market when its larger competitors could not. Its differentiated technology has the potential to change radiation therapy long term, but VRAY’s commercial launch is only in its infancy. Positive early clinical data are driving physician interest, but the price of the system has a significant premium (~50%) to existing linacs. VRAY, like many small capital equipment companies, has a good amount of risk, but we think momentum is building.”,” the firm’s analyst commented.
VRAY has been the topic of several other research reports. BidaskClub lowered shares of Viewray from a buy rating to a hold rating in a research report on Wednesday, August 8th. ValuEngine lowered shares of Viewray from a strong-buy rating to a buy rating in a research report on Thursday, November 8th. Finally, Robert W. Baird assumed coverage on shares of Viewray in a research report on Thursday, October 18th. They issued an outperform rating and a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Viewray currently has an average rating of Buy and a consensus price target of $14.21.
Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, November 8th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.17). Viewray had a negative return on equity of 105.63% and a negative net margin of 105.09%. The firm had revenue of $17.70 million for the quarter, compared to the consensus estimate of $17.77 million. During the same period in the previous year, the firm earned ($0.19) EPS. Viewray’s revenue for the quarter was up 45.1% on a year-over-year basis. On average, sell-side analysts expect that Viewray will post -0.87 EPS for the current year.
In other Viewray news, COO Shahriar Matin purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average price of $6.47 per share, for a total transaction of $161,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott William Drake purchased 60,000 shares of the firm’s stock in a transaction 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 own 43.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRAY. UBS Group AG grew its position in Viewray by 1,100.6% during the 1st quarter. UBS Group AG now owns 35,525 shares of the company’s stock worth $228,000 after purchasing an additional 32,566 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Viewray during the 2nd quarter worth approximately $131,000. Sei Investments Co. purchased a new position in Viewray during the 2nd quarter worth approximately $121,000. Rhumbline Advisers grew its position in Viewray by 68.0% during the 2nd quarter. Rhumbline Advisers now owns 44,894 shares of the company’s stock worth $311,000 after purchasing an additional 18,175 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Viewray by 56.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 163,001 shares of the company’s stock worth $1,128,000 after purchasing an additional 58,907 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.
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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