Viewray (NASDAQ:VRAY) Cut to “Sell” at BidaskClub

Viewray (NASDAQ:VRAY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

Several other equities research analysts also recently issued reports on VRAY. B. Riley reiterated a “neutral” rating and issued a $5.00 price objective (down previously from $9.00) on shares of Viewray in a report on Wednesday, December 4th. Guggenheim reiterated a “buy” rating and issued a $8.00 price objective on shares of Viewray in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Viewray in a report on Wednesday, November 13th. Mizuho reiterated a “buy” rating and issued a $9.00 price objective on shares of Viewray in a report on Tuesday, December 10th. Finally, Oppenheimer initiated coverage on Viewray in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $6.10.

Shares of VRAY stock traded up $0.14 on Tuesday, hitting $2.97. The stock had a trading volume of 117,315 shares, compared to its average volume of 2,926,409. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.70 and a quick ratio of 2.58. The firm has a market capitalization of $292.27 million, a P/E ratio of -2.99 and a beta of 1.17. Viewray has a 1 year low of $2.12 and a 1 year high of $9.76. The company’s 50 day moving average price is $4.00 and its 200-day moving average price is $4.57.

Viewray (NASDAQ:VRAY) last posted its quarterly earnings data 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 quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.39) EPS. On average, equities analysts forecast that Viewray will post -1.11 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Viewray by 2.3% in the second quarter. Wells Fargo & Company MN now owns 265,935 shares of the company’s stock worth $2,343,000 after acquiring an additional 5,879 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Viewray by 135.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 209,409 shares of the company’s stock valued at $1,808,000 after purchasing an additional 120,311 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Viewray by 4,390.1% during the 2nd quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock worth $52,000 after purchasing an additional 5,751 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Viewray by 6.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 361,700 shares of the company’s stock worth $3,187,000 after purchasing an additional 23,227 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Viewray by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 336,089 shares of the company’s stock worth $2,961,000 after purchasing an additional 46,115 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.

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Analyst Recommendations for Viewray (NASDAQ:VRAY)

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