FY2021 EPS Estimates for Viewray Inc (NASDAQ:VRAY) Lowered by Jefferies Financial Group

Viewray Inc (NASDAQ:VRAY) – Analysts at Jefferies Financial Group decreased their FY2021 earnings per share (EPS) estimates for Viewray in a research note issued on Monday, August 6th, according to Zacks Investment Research. Jefferies Financial Group analyst A. Petrone now forecasts that the company will earn $0.03 per share for the year, down from their prior estimate of $0.05. Jefferies Financial Group currently has a “Buy” rating and a $12.00 target price on the stock. Jefferies Financial Group also issued estimates for Viewray’s FY2022 earnings at $0.25 EPS.

A number of other research firms have also commented on VRAY. Mizuho reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Viewray in a research note on Monday, August 6th. BTIG Research reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Viewray in a research note on Tuesday, August 7th. BidaskClub lowered Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. ValuEngine raised Viewray from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 24th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Viewray in a research note on Friday, May 11th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.58.

Shares of VRAY stock traded down $0.29 during mid-day trading on Wednesday, reaching $10.08. 2,782,300 shares of the stock traded hands, compared to its average volume of 981,706. The company has a current ratio of 3.33, a quick ratio of 2.64 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $756.58 million, a price-to-earnings ratio of -9.69 and a beta of 1.24. Viewray has a 1-year low of $5.11 and a 1-year high of $13.21.

Viewray (NASDAQ:VRAY) last announced its quarterly earnings results on Friday, August 3rd. The company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.09). Viewray had a negative net margin of 83.84% and a negative return on equity of 353.05%. The firm had revenue of $16.44 million for the quarter, compared to analyst estimates of $15.97 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 2255.3% compared to the same quarter last year.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Viewray by 0.4% in the first quarter. BlackRock Inc. now owns 1,859,946 shares of the company’s stock worth $11,960,000 after purchasing an additional 6,678 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Viewray by 88.5% in the fourth quarter. Bank of New York Mellon Corp now owns 205,129 shares of the company’s stock worth $1,901,000 after purchasing an additional 96,302 shares in the last quarter. Fosun International Ltd increased its holdings in Viewray by 61.2% in the first quarter. Fosun International Ltd now owns 10,767,975 shares of the company’s stock worth $69,239,000 after purchasing an additional 4,090,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Viewray by 8.4% in the first quarter. Russell Investments Group Ltd. now owns 407,151 shares of the company’s stock worth $2,618,000 after purchasing an additional 31,416 shares in the last quarter. Finally, Park West Asset Management LLC increased its holdings in Viewray by 31.8% in the first quarter. Park West Asset Management LLC now owns 3,446,113 shares of the company’s stock worth $22,158,000 after purchasing an additional 830,898 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

In other Viewray news, major shareholder International Ltd Fosun bought 2,702,702 shares of the stock in a transaction on Thursday, August 30th. The stock was acquired at an average cost of $9.25 per share, for a total transaction of $24,999,993.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Orbimed Advisors Llc sold 169,920 shares of Viewray stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $11.20, for a total value of $1,903,104.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,436,496 shares of company stock worth $36,326,958. 43.93% of the stock is owned by insiders.

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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