BidaskClub Upgrades Viewray (NASDAQ:VRAY) to Sell

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BidaskClub upgraded shares of Viewray (NASDAQ:VRAY) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the company. Mizuho reissued a buy rating and set a $9.00 target price on shares of Viewray in a report on Sunday, August 11th. Jefferies Financial Group dropped their target price on Viewray from $14.00 to $7.00 and set a buy rating on the stock in a report on Friday, August 9th. Zacks Investment Research cut Viewray from a hold rating to a sell rating in a report on Friday, August 9th. Piper Jaffray Companies initiated coverage on Viewray in a report on Tuesday, June 18th. They set an overweight rating and a $15.00 target price on the stock. Finally, Cantor Fitzgerald set a $13.00 target price on Viewray and gave the stock a buy rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Viewray has an average rating of Buy and an average price target of $11.75.

Shares of NASDAQ:VRAY opened at $4.44 on Thursday. Viewray has a 12 month low of $2.76 and a 12 month high of $10.73. The stock has a market cap of $387.03 million, a price-to-earnings ratio of -4.53 and a beta of 0.79. The stock’s 50 day moving average price is $7.99 and its 200 day moving average price is $8.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.01 and a quick ratio of 3.21.

Viewray (NASDAQ:VRAY) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09). Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. The firm had revenue of $30.17 million for the quarter, compared to the consensus estimate of $25.92 million. During the same period in the previous year, the firm earned ($0.30) EPS. Viewray’s revenue for the quarter was up 83.5% on a year-over-year basis. On average, sell-side analysts expect that Viewray will post -1.18 EPS for the current year.

In other Viewray news, insider James F. Dempsey sold 5,146 shares of Viewray stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $8.63, for a total value of $44,409.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Shahriar Matin purchased 60,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $4.02 per share, for a total transaction of $241,200.00. The disclosure for this purchase can be found here. Insiders own 15.48% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP grew its position in Viewray by 47.1% during the 1st quarter. Marshall Wace LLP now owns 131,179 shares of the company’s stock worth $970,000 after purchasing an additional 42,015 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in Viewray by 1,204.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 132,857 shares of the company’s stock worth $982,000 after purchasing an additional 122,675 shares in the last quarter. Northern Trust Corp grew its position in Viewray by 2.7% during the 4th 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. Penn Capital Management Co. Inc. grew its position in Viewray by 6.0% during the 1st quarter. Penn Capital Management Co. Inc. now owns 554,892 shares of the company’s stock worth $4,101,000 after purchasing an additional 31,327 shares in the last quarter. Finally, LVZ Advisors Inc. purchased a new position in Viewray during the 1st quarter worth approximately $246,000.

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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