Viewray’s (VRAY) Buy Rating Reaffirmed at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Viewray (NASDAQ:VRAY) in a research report released on Tuesday, TipRanks reports. The brokerage currently has a $8.00 price target on the stock.

VRAY has been the subject of a number of other reports. Zacks Investment Research downgraded Viewray from a strong-buy rating to a hold rating in a report on Saturday, November 16th. Piper Jaffray Companies set a $6.00 price target on Viewray and gave the stock a buy rating in a research report on Tuesday, October 15th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Viewray in a research note on Wednesday, November 13th. Northland Securities reiterated a buy rating and issued a $5.00 price objective on shares of Viewray in a report on Monday, August 19th. Finally, Oppenheimer assumed coverage on shares of Viewray in a research report on Tuesday, October 22nd. They issued an outperform rating and a $7.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $6.10.

VRAY opened at $4.26 on Tuesday. The stock has a market capitalization of $330.03 million, a P/E ratio of -4.34 and a beta of 1.09. The company has a current ratio of 3.70, a quick ratio of 2.58 and a debt-to-equity ratio of 0.62. Viewray has a 12 month low of $2.12 and a 12 month high of $9.76. The firm’s fifty day simple moving average is $2.83 and its 200 day simple moving average is $5.55.

Viewray (NASDAQ:VRAY) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The firm had revenue of $20.90 million for the quarter, compared to the consensus estimate of $20.66 million. Viewray had a negative return on equity of 75.41% and a negative net margin of 110.61%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS. On average, equities research analysts predict that Viewray will post -1.13 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Usca Ria LLC acquired a new stake in shares of Viewray in the 3rd quarter valued at approximately $28,000. Stifel Financial Corp bought a new stake in Viewray during the third quarter worth $39,000. Bank of Montreal Can raised its position in Viewray by 4,390.1% during the second quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock worth $52,000 after acquiring an additional 5,751 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in Viewray in the third quarter valued at $86,000. Finally, Allworth Financial LP lifted its stake in Viewray by 587.8% in the third quarter. Allworth Financial LP now owns 32,594 shares of the company’s stock valued at $95,000 after acquiring an additional 27,855 shares during the last quarter.

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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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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