ViewRay (NASDAQ:VRAY) Stock Price Down 6.1%

ViewRay, Inc. (NASDAQ:VRAYGet Rating)’s share price dropped 6.1% during trading on Thursday . The company traded as low as $3.39 and last traded at $3.39. Approximately 13,975 shares traded hands during trading, a decline of 99% from the average daily volume of 1,478,058 shares. The stock had previously closed at $3.61.

VRAY has been the subject of a number of analyst reports. StockNews.com initiated coverage on ViewRay in a research note on Thursday, March 31st. They set a “sell” rating for the company. Stifel Nicolaus initiated coverage on ViewRay in a research note on Tuesday, January 25th. They set a “buy” rating and a $7.00 price objective for the company. B. Riley raised ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Tuesday, January 11th. Finally, Zacks Investment Research cut ViewRay from a “buy” rating to a “hold” rating in a research note on Thursday, January 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

The firm has a market cap of $523.86 million, a P/E ratio of -4.36 and a beta of 0.94. The company has a quick ratio of 3.33, a current ratio of 3.72 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $3.82 and a 200-day moving average of $4.94.

ViewRay (NASDAQ:VRAYGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.01). The company had revenue of $20.40 million for the quarter, compared to analyst estimates of $19.73 million. ViewRay had a negative return on equity of 74.48% and a negative net margin of 156.95%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) EPS. On average, equities analysts forecast that ViewRay, Inc. will post -0.66 EPS for the current year.

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

Several hedge funds have recently modified their holdings of the business. Artisan Partners Limited Partnership lifted its stake in shares of ViewRay by 3.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 24,327,709 shares of the company’s stock valued at $175,403,000 after acquiring an additional 698,074 shares during the last quarter. BlackRock Inc. lifted its stake in shares of ViewRay by 3.0% in the 4th quarter. BlackRock Inc. now owns 10,004,218 shares of the company’s stock valued at $55,123,000 after acquiring an additional 287,145 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ViewRay by 230.6% in the 4th quarter. Millennium Management LLC now owns 6,362,653 shares of the company’s stock valued at $35,058,000 after acquiring an additional 4,438,283 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of ViewRay by 15.8% in the 3rd quarter. Bamco Inc. NY now owns 4,400,929 shares of the company’s stock valued at $31,731,000 after acquiring an additional 600,929 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of ViewRay by 1.9% in the 4th quarter. State Street Corp now owns 4,150,698 shares of the company’s stock valued at $22,870,000 after acquiring an additional 79,214 shares during the last quarter. 89.75% of the stock is currently owned by hedge funds and other institutional investors.

About ViewRay (NASDAQ:VRAY)

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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