Piper Sandler Analysts Lower Earnings Estimates for ViewRay, Inc. (NASDAQ:VRAY)

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ViewRay, Inc. (NASDAQ:VRAY) – Stock analysts at Piper Sandler cut their FY2020 earnings per share (EPS) estimates for shares of ViewRay in a research report issued to clients and investors on Monday, January 11th. Piper Sandler analyst J. Bednar now forecasts that the company will post earnings of ($0.73) per share for the year, down from their previous forecast of ($0.70). Piper Sandler has a “Overweight” rating and a $7.00 price target on the stock. Piper Sandler also issued estimates for ViewRay’s Q4 2020 earnings at ($0.17) EPS, Q1 2021 earnings at ($0.15) EPS, Q2 2021 earnings at ($0.15) EPS, Q3 2021 earnings at ($0.14) EPS, FY2021 earnings at ($0.58) EPS, Q1 2022 earnings at ($0.14) EPS and Q4 2022 earnings at ($0.12) EPS.

A number of other research firms have also recently issued reports on VRAY. ValuEngine cut ViewRay from a “buy” rating to a “hold” rating in a research report on Tuesday, January 5th. BidaskClub cut ViewRay from a “hold” rating to a “sell” rating in a report on Tuesday, October 13th. B. Riley upgraded ViewRay from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.75 to $4.00 in a report on Wednesday, October 28th. Morgan Stanley boosted their price target on ViewRay from $2.00 to $3.00 and gave the stock an “underweight” rating in a report on Wednesday, January 6th. Finally, Zacks Investment Research upgraded ViewRay from a “sell” rating to a “hold” rating in a report on Tuesday, January 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.14.

ViewRay stock opened at $5.62 on Thursday. ViewRay has a 12-month low of $1.11 and a 12-month high of $7.36. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $4.33 and its two-hundred day moving average price is $3.29. The stock has a market cap of $834.57 million, a PE ratio of -6.31 and a beta of 0.64.

ViewRay (NASDAQ:VRAY) last released its earnings results on Thursday, November 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.02). ViewRay had a negative net margin of 166.74% and a negative return on equity of 63.41%. The business had revenue of $10.09 million during the quarter, compared to the consensus estimate of $8.91 million.

A number of institutional investors and hedge funds have recently modified their holdings of VRAY. FNY Investment Advisers LLC acquired a new position in ViewRay in the third quarter valued at approximately $35,000. Jane Street Group LLC grew its holdings in ViewRay by 38.8% during the second quarter. Jane Street Group LLC now owns 22,944 shares of the company’s stock worth $51,000 after buying an additional 6,410 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in ViewRay by 491.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 25,614 shares of the company’s stock valued at $90,000 after purchasing an additional 21,280 shares during the period. Principal Financial Group Inc. grew its stake in ViewRay by 221.8% in the 2nd quarter. Principal Financial Group Inc. now owns 46,256 shares of the company’s stock valued at $103,000 after purchasing an additional 31,880 shares during the period. Finally, Perkins Capital Management Inc. bought a new position in ViewRay in the 3rd quarter valued at $125,000. 83.03% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Scott William Drake acquired 155,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were bought at an average cost of $3.23 per share, with a total value of $500,650.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.48% of the stock is owned by insiders.

ViewRay Company Profile

ViewRay, Inc designs, manufactures, and markets radiation therapy systems. The company offers MRIdian, a magnetic resonance image guided radiation therapy system to image and treat cancer patients. Its MRIdian integrates MRI technology, radiation delivery, and proprietary software to see the soft tissues, shape the dose to accommodate for changes in anatomy, and strike the target using real-time targeting throughout the treatment.

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Earnings History and Estimates for ViewRay (NASDAQ:VRAY)

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