Viewray Target of Unusually Large Options Trading (NASDAQ:VRAY)

Viewray Inc (NASDAQ:VRAY) was the target of unusually large options trading on Thursday. Stock investors acquired 3,343 call options on the stock. This is an increase of 3,277% compared to the typical daily volume of 99 call options.

A number of analysts have recently issued reports on the company. Morgan Stanley set a $5.00 target price on Viewray and gave the stock a “hold” rating in a research report on Monday. Jefferies Financial Group decreased their price target on Viewray from $14.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. ValuEngine downgraded Viewray from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Cantor Fitzgerald set a $13.00 target price on Viewray and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Mizuho restated a “buy” rating and issued a $9.00 target price on shares of Viewray in a research note on Sunday, August 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Viewray currently has an average rating of “Buy” and a consensus target price of $11.75.

Viewray stock opened at $3.93 on Friday. The stock has a market cap of $394.91 million, a P/E ratio of -4.01 and a beta of 0.79. The company has a quick ratio of 3.21, a current ratio of 4.01 and a debt-to-equity ratio of 0.55. Viewray has a 12 month low of $2.76 and a 12 month high of $10.73. The company’s fifty day simple moving average is $8.08 and its 200-day simple moving average is $8.07.

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

In other news, insider James F. Dempsey sold 5,146 shares of Viewray stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $8.63, for a total transaction of $44,409.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott William Drake bought 131,260 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $3.81 per share, for a total transaction of $500,100.60. The disclosure for this purchase can be found here. Company insiders own 15.48% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Viewray by 4,390.1% in the second quarter. Bank of Montreal Can now owns 5,882 shares of the company’s stock worth $52,000 after purchasing an additional 5,751 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Viewray during the fourth quarter valued at approximately $45,000. Citigroup Inc. grew its stake in shares of Viewray by 146.5% during the fourth quarter. Citigroup Inc. now owns 8,121 shares of the company’s stock valued at $49,000 after purchasing an additional 4,826 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Viewray during the fourth quarter valued at approximately $56,000. Finally, Cutler Group LP bought a new stake in shares of Viewray during the first quarter valued at approximately $76,000.

About Viewray

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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