ViewRay (NASDAQ:VRAY) Shares Down 5.5% After Insider Selling

ViewRay, Inc. (NASDAQ:VRAY) fell 5.5% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $5.61 and last traded at $5.70. 6,946 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 1,719,505 shares. The stock had previously closed at $6.03.

Specifically, major shareholder International Ltd Fosun sold 4,300,000 shares of ViewRay stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $5.97, for a total value of $25,671,000.00. Following the completion of the sale, the insider now owns 2,813,834 shares in the company, valued at approximately $16,798,588.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by insiders.

VRAY has been the topic of several recent analyst reports. Guggenheim raised shares of ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Friday, May 7th. BTIG Research raised shares of ViewRay from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, March 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.86.

The business has a 50-day moving average of $5.12. The company has a quick ratio of 4.24, a current ratio of 5.13 and a debt-to-equity ratio of 0.35. The firm has a market cap of $931.62 million, a price-to-earnings ratio of -8.00 and a beta of 1.05.

ViewRay (NASDAQ:VRAY) last issued its quarterly earnings results on Thursday, May 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). ViewRay had a negative return on equity of 69.14% and a negative net margin of 183.76%. On average, equities analysts anticipate that ViewRay, Inc. will post -0.68 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership grew its position in ViewRay by 11.1% during the first quarter. Artisan Partners Limited Partnership now owns 20,732,736 shares of the company’s stock valued at $90,187,000 after buying an additional 2,074,153 shares during the period. Hudson Executive Capital LP lifted its holdings in ViewRay by 13.4% during the first quarter. Hudson Executive Capital LP now owns 14,774,684 shares of the company’s stock valued at $64,270,000 after purchasing an additional 1,750,000 shares during the last quarter. Pura Vida Investments LLC lifted its holdings in ViewRay by 23.6% during the first quarter. Pura Vida Investments LLC now owns 9,632,701 shares of the company’s stock valued at $41,902,000 after purchasing an additional 1,837,114 shares during the last quarter. BlackRock Inc. lifted its holdings in ViewRay by 21.4% during the first quarter. BlackRock Inc. now owns 9,611,351 shares of the company’s stock valued at $41,810,000 after purchasing an additional 1,694,880 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in ViewRay by 61.2% during the first quarter. Bamco Inc. NY now owns 3,200,463 shares of the company’s stock valued at $13,922,000 after purchasing an additional 1,215,463 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

About ViewRay (NASDAQ:VRAY)

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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