Viewray (VRAY) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Viewray (NASDAQ:VRAY) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities analysts have also issued reports on the company. ValuEngine upgraded Viewray from a hold rating to a buy rating in a research report on Wednesday, January 16th. Morgan Stanley started coverage on Viewray in a research report on Tuesday, December 11th. They set an equal weight rating and a $7.00 target price for the company. Guggenheim started coverage on Viewray in a research report on Tuesday, January 15th. They set a buy rating and a $13.00 target price for the company. Cantor Fitzgerald set a $13.00 target price on Viewray and gave the stock a buy rating in a research report on Thursday, December 20th. Finally, Northland Securities restated a buy rating and set a $20.00 target price on shares of Viewray in a research report on Thursday, December 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Viewray currently has an average rating of Buy and an average price target of $12.63.

Viewray stock opened at $8.17 on Friday. The stock has a market cap of $782.11 million, a PE ratio of -7.86 and a beta of 1.30. Viewray has a 1 year low of $4.86 and a 1 year high of $13.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.47 and a quick ratio of 5.56.

Viewray (NASDAQ:VRAY) last posted its earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The company had revenue of $20.66 million during the quarter, compared to analyst estimates of $20.38 million. Viewray had a negative return on equity of 105.63% and a negative net margin of 105.09%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.38) EPS. Equities analysts forecast that Viewray will post -0.91 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. grew its position in shares of Viewray by 3.9% in the 4th quarter. American International Group Inc. now owns 41,576 shares of the company’s stock valued at $252,000 after purchasing an additional 1,573 shares during the period. Legal & General Group Plc grew its position in shares of Viewray by 20.8% in the 3rd quarter. Legal & General Group Plc now owns 9,719 shares of the company’s stock valued at $91,000 after purchasing an additional 1,676 shares during the period. NumerixS Investment Technologies Inc grew its position in shares of Viewray by 90.6% in the 4th quarter. NumerixS Investment Technologies Inc now owns 6,100 shares of the company’s stock valued at $34,000 after purchasing an additional 2,900 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Viewray by 3.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 100,230 shares of the company’s stock valued at $938,000 after purchasing an additional 3,365 shares during the period. Finally, Lido Advisors LLC grew its position in shares of Viewray by 6.6% in the 4th quarter. Lido Advisors LLC now owns 59,710 shares of the company’s stock valued at $362,000 after purchasing an additional 3,674 shares during the period.

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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