Northland Securities Reaffirms “Buy” Rating for Viewray (NASDAQ:VRAY)

Northland Securities restated their buy rating on shares of Viewray (NASDAQ:VRAY) in a research report report published on Monday morning, AnalystRatings.com reports. The firm currently has a $5.00 target price on the stock.

“We remain confident in our analysis of the clinical benefits of MRgRT, and this study is another data point towards long-term validation.”,” Northland Securities’ analyst commented.

Several other research analysts have also recently weighed in on VRAY. Piper Jaffray Companies assumed coverage on shares of Viewray in a report on Tuesday, June 18th. They set an overweight rating and a $15.00 price objective for the company. BidaskClub raised shares of Viewray from a strong sell rating to a sell rating in a report on Thursday, August 15th. Morgan Stanley set a $5.00 price objective on shares of Viewray and gave the company a hold rating in a report on Monday, August 12th. Mizuho reissued a buy rating and set a $9.00 price objective on shares of Viewray in a report on Sunday, August 11th. Finally, Cantor Fitzgerald set a $13.00 price objective on shares of Viewray and gave the company a buy rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Viewray has an average rating of Buy and an average price target of $10.25.

Shares of NASDAQ VRAY opened at $4.17 on Monday. The firm’s 50 day moving average price is $7.55 and its 200-day moving average price is $7.97. The company has a market cap of $410.66 million, a PE ratio of -4.26 and a beta of 0.79. Viewray has a 52-week low of $2.76 and a 52-week high of $10.73. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.01 and a current ratio of 4.01.

Viewray (NASDAQ:VRAY) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). The firm had revenue of $30.17 million during the quarter, compared to the consensus estimate of $25.92 million. Viewray had a negative return on equity of 67.02% and a negative net margin of 128.13%. The company’s quarterly revenue was up 83.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) EPS. On average, analysts forecast that Viewray will post -1.18 earnings per share for the current fiscal year.

In other Viewray news, insider James F. Dempsey sold 21,615 shares of the company’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 transaction of $193,886.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James F. Dempsey sold 5,146 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $8.63, for a total transaction of $44,409.98. The disclosure for this sale can be found here. 15.48% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System increased its holdings in Viewray by 6.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company’s stock valued at $202,000 after buying an additional 1,460 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Viewray by 9.6% in the second 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 period. Wrapmanager Inc. boosted its position in shares of Viewray by 5.5% in the second quarter. Wrapmanager Inc. now owns 34,699 shares of the company’s stock worth $306,000 after purchasing an additional 1,797 shares during the period. TD Asset Management Inc. boosted its position in shares of Viewray by 4.3% in the first quarter. TD Asset Management Inc. now owns 60,167 shares of the company’s stock worth $445,000 after purchasing an additional 2,500 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Viewray by 4.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 74,440 shares of the company’s stock worth $550,000 after purchasing an additional 3,090 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.

Featured Story: Treasury Bonds

Analyst Recommendations for Viewray (NASDAQ:VRAY)

Receive News & Ratings for Viewray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viewray and related companies with MarketBeat.com's FREE daily email newsletter.