Insider Buying: ViewRay, Inc. (NASDAQ:VRAY) Director Purchases $24,100.00 in Stock

ViewRay, Inc. (NASDAQ:VRAY – Get Rating) Director Susan C. Schnabel purchased 10,000 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $2.41 per share, with a total value of $24,100.00. Following the completion of the acquisition, the director now owns 73,279 shares of the company’s stock, valued at $176,602.39. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

ViewRay stock opened at $3.30 on Friday. The firm has a market capitalization of $595.51 million, a P/E ratio of -5.16 and a beta of 1.12. The stock has a fifty day moving average price of $3.46 and a 200 day moving average price of $4.53. ViewRay, Inc. has a 52 week low of $2.39 and a 52 week high of $8.25. The company has a current ratio of 3.17, a quick ratio of 3.33 and a debt-to-equity ratio of 0.33.

ViewRay (NASDAQ:VRAY – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. ViewRay had a negative return on equity of 76.00% and a negative net margin of 148.47%. The firm had revenue of $18.88 million during the quarter, compared to the consensus estimate of $15.62 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. As a group, equities analysts predict that ViewRay, Inc. will post -0.61 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in ViewRay during the fourth quarter valued at about $2,646,000. Dimensional Fund Advisors LP grew its position in ViewRay by 23.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,688,463 shares of the company’s stock valued at $12,173,000 after acquiring an additional 322,318 shares during the period. Russell Investments Group Ltd. grew its position in ViewRay by 6.4% during the fourth quarter. Russell Investments Group Ltd. now owns 314,015 shares of the company’s stock valued at $1,728,000 after acquiring an additional 18,968 shares during the period. Virginia Retirement Systems ET AL grew its position in ViewRay by 50.3% during the fourth quarter. Virginia Retirement Systems ET AL now owns 47,200 shares of the company’s stock valued at $260,000 after acquiring an additional 15,800 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of ViewRay by 3.0% in the third quarter. Artisan Partners Limited Partnership now owns 24,327,709 shares of the company’s stock worth $175,403,000 after buying an additional 698,074 shares during the period. 86.04% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised ViewRay from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Wednesday. Stifel Nicolaus initiated coverage on ViewRay in a report on Tuesday, January 25th. They issued a “buy” rating and a $7.00 price target for the company. StockNews.com initiated coverage on ViewRay in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Finally, Piper Sandler dropped their target price on ViewRay from $9.00 to $7.00 in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $5.94.

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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