B. Riley Comments on ViewRay, Inc.’s Q3 2022 Earnings (NASDAQ:VRAY)

ViewRay, Inc. (NASDAQ:VRAYGet Rating) – Stock analysts at B. Riley issued their Q3 2022 earnings estimates for ViewRay in a research note issued on Tuesday, May 10th. B. Riley analyst J. Walsh expects that the company will post earnings per share of ($0.17) for the quarter. B. Riley also issued estimates for ViewRay’s Q4 2022 earnings at ($0.19) EPS, FY2022 earnings at ($0.67) EPS, FY2023 earnings at ($0.60) EPS and FY2024 earnings at ($0.51) EPS.

ViewRay (NASDAQ:VRAYGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The business had revenue of $18.88 million during the quarter, compared to the consensus estimate of $15.62 million. ViewRay had a negative return on equity of 76.71% and a negative net margin of 148.47%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS.

Several other research firms have also weighed in on VRAY. Piper Sandler decreased their price target on ViewRay from $9.00 to $7.00 in a report on Friday, May 6th. Zacks Investment Research upgraded ViewRay from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Wednesday. Stifel Nicolaus started coverage on ViewRay in a report on Tuesday, January 25th. They set a “buy” rating and a $7.00 price target on the stock. Finally, StockNews.com started coverage on ViewRay in a report on Thursday, March 31st. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, ViewRay currently has an average rating of “Buy” and a consensus target price of $5.94.

NASDAQ VRAY opened at $2.45 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.33 and a current ratio of 3.72. The company has a market capitalization of $442.12 million, a P/E ratio of -3.83 and a beta of 1.12. ViewRay has a one year low of $2.39 and a one year high of $8.25. The stock has a 50 day moving average price of $3.49 and a 200-day moving average price of $4.56.

In related news, Director Susan C. Schnabel acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The stock was bought at an average price of $3.80 per share, for a total transaction of $38,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRAY. Point72 Hong Kong Ltd purchased a new position in ViewRay during the 3rd quarter valued at about $42,000. Jupiter Asset Management Ltd. purchased a new position in ViewRay during the 1st quarter valued at about $48,000. MQS Management LLC purchased a new position in ViewRay during the 1st quarter valued at about $55,000. LPL Financial LLC purchased a new position in ViewRay during the 4th quarter valued at about $58,000. Finally, Bayesian Capital Management LP purchased a new position in ViewRay during the 4th quarter valued at about $63,000. 86.04% of the stock is currently owned by institutional investors and hedge funds.

ViewRay Company Profile (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.

See Also

Earnings History and Estimates for ViewRay (NASDAQ:VRAY)

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