Viewray (NASDAQ:VRAY) Shares Down 14.2% After Insider Selling

Shares of Viewray Inc (NASDAQ:VRAY) were down 14.2% on Monday following insider selling activity. The stock traded as low as $7.39 and last traded at $7.41, approximately 1,807,272 shares were traded during mid-day trading. An increase of 64% from the average daily volume of 1,101,828 shares. The stock had previously closed at $8.64.

Specifically, insider James F. Dempsey sold 5,146 shares of Viewray stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $8.63, for a total transaction of $44,409.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James F. Dempsey sold 21,615 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $8.97, for a total value of $193,886.55. The disclosure for this sale can be found here. Company insiders own 15.48% of the company’s stock.

Several research firms recently weighed in on VRAY. TheStreet lowered Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. BidaskClub downgraded Viewray from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine raised Viewray from a “buy” rating to a “strong-buy” rating in a report on Thursday. Piper Jaffray Companies started coverage on Viewray in a report on Tuesday, June 18th. They issued an “overweight” rating and a $15.00 target price for the company. 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 research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.95.

The company has a market cap of $837.67 million, a price-to-earnings ratio of -7.56 and a beta of 0.79. The stock’s fifty day simple moving average is $8.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.28 and a quick ratio of 3.21.

Viewray (NASDAQ:VRAY) last posted its earnings results on Thursday, May 2nd. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). Viewray had a negative return on equity of 71.16% and a negative net margin of 139.82%. The business had revenue of $20.30 million during the quarter, compared to analyst estimates of $20.40 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The company’s revenue was down 22.5% on a year-over-year basis. As a group, analysts predict that Viewray Inc will post -1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its stake in Viewray by 6.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock worth $202,000 after purchasing an additional 1,460 shares during the last quarter. Kahn Brothers Group Inc. DE acquired a new stake in Viewray during the 2nd quarter worth $991,000. Swiss National Bank boosted its stake in Viewray by 11.5% during the 2nd quarter. Swiss National Bank now owns 106,900 shares of the company’s stock worth $942,000 after purchasing an additional 11,000 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Viewray by 224.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 41,009 shares of the company’s stock worth $361,000 after purchasing an additional 28,380 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in Viewray by 9.6% during the 2nd quarter. Stephens Inc. AR now owns 17,420 shares of the company’s stock worth $153,000 after purchasing an additional 1,522 shares during the last quarter.

Viewray Company Profile (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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