Viewray Inc (NASDAQ:VRAY) Expected to Announce Quarterly Sales of $17.87 Million

Wall Street analysts expect Viewray Inc (NASDAQ:VRAY) to report sales of $17.87 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Viewray’s earnings, with the highest sales estimate coming in at $22.92 million and the lowest estimate coming in at $14.24 million. Viewray posted sales of $20.66 million in the same quarter last year, which would indicate a negative year over year growth rate of 13.5%. The firm is expected to announce its next quarterly earnings report on Thursday, March 12th.

According to Zacks, analysts expect that Viewray will report full-year sales of $89.35 million for the current fiscal year, with estimates ranging from $85.55 million to $94.23 million. For the next year, analysts expect that the business will post sales of $127.50 million, with estimates ranging from $113.20 million to $137.43 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Viewray.

Viewray (NASDAQ:VRAY) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. Viewray had a negative return on equity of 75.41% and a negative net margin of 110.61%. The firm had revenue of $20.90 million during the quarter, compared to analysts’ expectations of $20.66 million. During the same period in the previous year, the business earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis.

A number of equities research analysts have recently issued reports on VRAY shares. Guggenheim reaffirmed a “buy” rating and set a $8.00 target price on shares of Viewray in a report on Tuesday. Mizuho reissued a “buy” rating and issued a $9.00 price target on shares of Viewray in a research note on Tuesday. Jefferies Financial Group decreased their price target on shares of Viewray from $14.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Jaffray Companies set a $6.00 price target on shares of Viewray and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, B. Riley reaffirmed a “neutral” rating and set a $5.00 price objective (down previously from $9.00) on shares of Viewray in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Viewray presently has an average rating of “Buy” and an average target price of $6.10.

VRAY stock traded down $0.06 during midday trading on Monday, reaching $4.02. The stock had a trading volume of 4,440,187 shares, compared to its average volume of 1,712,076. Viewray has a 52-week low of $2.12 and a 52-week high of $9.76. The company has a current ratio of 3.70, a quick ratio of 2.58 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $2.86 and its 200 day simple moving average is $5.53. The company has a market cap of $330.03 million, a price-to-earnings ratio of -4.10 and a beta of 1.09.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its position in Viewray by 4,390.1% during 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 during the last quarter. Usca Ria LLC purchased a new stake in shares of Viewray in the 3rd quarter valued at approximately $28,000. Stifel Financial Corp purchased a new stake in shares of Viewray in the 3rd quarter valued at approximately $39,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Viewray during the 2nd quarter worth approximately $123,000. Finally, Stephens Inc. AR increased its holdings in shares of Viewray by 9.6% during the 2nd quarter. Stephens Inc. AR now owns 17,420 shares of the company’s stock worth $153,000 after buying an additional 1,522 shares during the last quarter.

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.

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