Viewray (VRAY) Shares Gap Down to $8.34

Viewray Inc (NASDAQ:VRAY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $8.77, but opened at $8.34. Viewray shares last traded at $8.17, with a volume of 4407923 shares traded.

A number of research firms have recently issued reports on VRAY. ValuEngine raised shares of Viewray from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Zacks Investment Research raised shares of Viewray from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research report on Saturday, February 9th. BidaskClub cut shares of Viewray from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Cantor Fitzgerald set a $13.00 price objective on shares of Viewray and gave the stock a “buy” rating in a research report on Thursday, December 20th. Finally, Guggenheim began coverage on shares of Viewray in a research report on Tuesday, January 15th. They set a “buy” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.63.

The company has a current ratio of 6.47, a quick ratio of 5.56 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $798.39 million, a price-to-earnings ratio of -7.86 and a beta of 1.30.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. American International Group Inc. raised its holdings 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 worth $252,000 after acquiring an additional 1,573 shares during the last quarter. Legal & General Group Plc raised its holdings 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 worth $91,000 after acquiring an additional 1,676 shares during the last quarter. NumerixS Investment Technologies Inc raised its holdings 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 worth $34,000 after acquiring an additional 2,900 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings 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 worth $938,000 after acquiring an additional 3,365 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of Viewray by 6.6% in the 4th quarter. Lido Advisors LLC now owns 59,710 shares of the company’s stock worth $362,000 after acquiring an additional 3,674 shares during the last quarter.

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About Viewray (NASDAQ:VRAY)

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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