Viewray (NASDAQ:VRAY) Given a $5.00 Price Target by Morgan Stanley Analysts

Viewray (NASDAQ:VRAY) has been given a $5.00 price target by Morgan Stanley in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a “hold” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 25.00% from the company’s current price.

A number of other brokerages also recently weighed in on VRAY. TheStreet downgraded shares of Viewray from a “c-” rating to a “d” rating in a report on Friday, May 3rd. BidaskClub downgraded shares of Viewray from a “sell” rating to a “strong sell” rating in a report on Thursday, August 8th. Piper Jaffray Companies initiated coverage on shares of Viewray in a research note on Tuesday, June 18th. They set an “overweight” rating and a $15.00 price objective for the company. Cantor Fitzgerald set a $13.00 price objective on shares of Viewray and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Mizuho reaffirmed a “buy” rating and set a $9.00 price objective on shares of Viewray in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $11.75.

VRAY traded down $0.01 on Monday, reaching $4.00. The company had a trading volume of 187,695 shares, compared to its average volume of 1,389,939. The firm has a fifty day moving average of $8.26. The stock has a market cap of $305.29 million, a P/E ratio of -4.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.28 and a quick ratio of 3.21. Viewray has a one year low of $2.76 and a one year high of $10.73.

Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.09). Viewray had a negative net margin of 128.13% and a negative return on equity of 62.98%. The company had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The business’s quarterly revenue was up 83.5% on a year-over-year basis. Sell-side analysts forecast that Viewray will post -1.01 EPS for the current fiscal year.

In related news, CEO Scott William Drake purchased 131,260 shares of Viewray stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $3.81 per share, with a total value of $500,100.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James F. Dempsey sold 21,615 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $8.97, for a total transaction of $193,886.55. The disclosure for this sale can be found here. 15.48% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of VRAY. Bank of New York Mellon Corp lifted its position in shares of Viewray by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 287,327 shares of the company’s stock worth $1,744,000 after purchasing an additional 4,310 shares in the last quarter. Northern Trust Corp lifted its position in shares of Viewray by 2.7% in the fourth quarter. Northern Trust Corp now owns 836,280 shares of the company’s stock worth $5,077,000 after purchasing an additional 22,187 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Viewray in the fourth quarter worth approximately $420,000. Geode Capital Management LLC lifted its position in shares of Viewray by 12.7% in the fourth quarter. Geode Capital Management LLC now owns 662,946 shares of the company’s stock worth $4,024,000 after purchasing an additional 74,630 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Viewray by 403.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,783 shares of the company’s stock worth $120,000 after purchasing an additional 15,853 shares in the last quarter.

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.

Further Reading: Buyback

Analyst Recommendations for Viewray (NASDAQ:VRAY)

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.