ViewRay, Inc. (NASDAQ:VRAY) Expected to Post Quarterly Sales of $16.62 Million

Wall Street analysts predict that ViewRay, Inc. (NASDAQ:VRAYGet Rating) will post $16.62 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for ViewRay’s earnings, with estimates ranging from $14.84 million to $21.03 million. ViewRay reported sales of $15.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that ViewRay will report full year sales of $94.91 million for the current financial year, with estimates ranging from $88.73 million to $98.83 million. For the next fiscal year, analysts expect that the business will post sales of $132.05 million, with estimates ranging from $112.00 million to $144.33 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ViewRay.

ViewRay (NASDAQ:VRAYGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). ViewRay had a negative return on equity of 74.48% and a negative net margin of 156.95%. The business had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $19.73 million. During the same period in the previous year, the company posted ($0.18) EPS. ViewRay’s revenue for the quarter was up 10.3% on a year-over-year basis.

A number of equities research analysts recently commented on VRAY shares. B. Riley raised shares of ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Tuesday, January 11th. Stifel Nicolaus started coverage on shares of ViewRay in a research report on Tuesday, January 25th. They set a “buy” rating and a $7.00 target price for the company. Zacks Investment Research cut shares of ViewRay from a “buy” rating to a “hold” rating in a research report on Thursday, January 13th. Finally, StockNews.com initiated coverage on shares of ViewRay in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.25.

In related news, Director Susan C. Schnabel acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were acquired at an average cost of $3.80 per share, with a total value of $38,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in ViewRay during the fourth quarter valued at $2,646,000. Dimensional Fund Advisors LP lifted its stake in shares of ViewRay by 23.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,688,463 shares of the company’s stock worth $12,173,000 after buying an additional 322,318 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of ViewRay by 6.4% in the fourth quarter. Russell Investments Group Ltd. now owns 314,015 shares of the company’s stock worth $1,728,000 after buying an additional 18,968 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in ViewRay by 50.3% during the fourth quarter. Virginia Retirement Systems ET AL now owns 47,200 shares of the company’s stock worth $260,000 after purchasing an additional 15,800 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in ViewRay by 3.0% during the third quarter. Artisan Partners Limited Partnership now owns 24,327,709 shares of the company’s stock worth $175,403,000 after purchasing an additional 698,074 shares during the period. 89.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of VRAY opened at $2.67 on Friday. The company has a 50 day moving average price of $3.72 and a 200-day moving average price of $4.79. ViewRay has a fifty-two week low of $2.61 and a fifty-two week high of $8.25. The stock has a market capitalization of $479.01 million, a PE ratio of -3.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.33 and a current ratio of 3.72.

About ViewRay (Get Rating)

ViewRay, Inc designs, manufactures, and markets magnetic resonance imaging (MRI) guided radiation therapy systems to image and treat cancer patients in the United States, France, Taiwan, the United Kingdom, and internationally. The company provides MRIdian, which is an MRI guided radiation therapy system that addresses beam distortion, skin toxicity, and other concerns.

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Earnings History and Estimates for ViewRay (NASDAQ:VRAY)

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