Zacks: Analysts Anticipate Viewray Inc (VRAY) Will Post Earnings of -$0.17 Per Share

Wall Street brokerages expect Viewray Inc (NASDAQ:VRAY) to report earnings per share (EPS) of ($0.17) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Viewray’s earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.15). Viewray posted earnings of ($0.38) per share in the same quarter last year, which suggests a positive year over year growth rate of 55.3%. The business is scheduled to issue its next quarterly earnings report on Monday, March 11th.

On average, analysts expect that Viewray will report full-year earnings of ($0.80) per share for the current fiscal year, with EPS estimates ranging from ($0.86) to ($0.76). For the next financial year, analysts forecast that the firm will post earnings of ($0.53) per share, with EPS estimates ranging from ($0.67) to ($0.44). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Viewray.

Viewray (NASDAQ:VRAY) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.17). Viewray had a negative return on equity of 353.05% and a negative net margin of 83.84%. The company had revenue of $17.70 million for the quarter, compared to analyst estimates of $17.77 million. During the same period last year, the firm posted ($0.19) EPS. The business’s quarterly revenue was up 45.1% on a year-over-year basis.

A number of equities research analysts have commented on VRAY shares. Cantor Fitzgerald restated a “buy” rating and issued a $13.00 target price on shares of Viewray in a research report on Wednesday, October 3rd. BTIG Research restated a “buy” rating and issued a $14.00 target price on shares of Viewray in a research report on Tuesday, August 7th. Robert W. Baird started coverage on Viewray in a research report on Thursday, October 18th. They issued an “outperform” rating and a $14.00 target price on the stock. BidaskClub upgraded Viewray from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Finally, Mizuho restated a “buy” rating and issued a $13.00 target price on shares of Viewray in a research report on Monday, August 6th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $12.79.

NASDAQ:VRAY opened at $8.75 on Tuesday. Viewray has a 52 week low of $6.05 and a 52 week high of $13.21. The company has a quick ratio of 2.64, a current ratio of 3.33 and a debt-to-equity ratio of 1.17.

In other Viewray news, major shareholder International Ltd Fosun bought 2,702,702 shares of Viewray stock in a transaction on Thursday, August 30th. The shares were bought at an average price of $9.25 per share, for a total transaction of $24,999,993.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Orbimed Advisors Llc sold 521,607 shares of Viewray stock in a transaction on Monday, August 20th. The shares were sold at an average price of $9.95, for a total value of $5,189,989.65. The disclosure for this sale can be found here. 43.93% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in shares of Viewray by 39.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,006 shares of the company’s stock valued at $132,000 after buying an additional 5,364 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Viewray by 1.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 412,625 shares of the company’s stock valued at $2,857,000 after buying an additional 5,474 shares during the period. BlackRock Inc. raised its holdings in shares of Viewray by 0.4% in the 1st quarter. BlackRock Inc. now owns 1,859,946 shares of the company’s stock valued at $11,960,000 after buying an additional 6,678 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Viewray by 15.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 61,260 shares of the company’s stock valued at $394,000 after buying an additional 8,260 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Viewray by 209.7% in the 2nd quarter. Bank of America Corp DE now owns 14,710 shares of the company’s stock valued at $101,000 after buying an additional 9,960 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

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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