B. Riley Equities Analysts Boost Earnings Estimates for ViewRay, Inc. (NASDAQ:VRAY)

ViewRay, Inc. (NASDAQ:VRAY) – Stock analysts at B. Riley increased their FY2021 EPS estimates for ViewRay in a research note issued to investors on Tuesday, January 11th. B. Riley analyst J. Walsh now anticipates that the company will post earnings of ($0.66) per share for the year, up from their prior estimate of ($0.67). B. Riley has a “Buy” rating and a $7.00 price target on the stock. B. Riley also issued estimates for ViewRay’s Q4 2021 earnings at ($0.15) EPS, FY2022 earnings at ($0.67) EPS, FY2023 earnings at ($0.55) EPS and FY2024 earnings at ($0.47) EPS.

A number of other research analysts have also recently commented on VRAY. Piper Sandler raised their target price on ViewRay from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, November 5th. Zacks Investment Research cut ViewRay from a “buy” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.25.

NASDAQ VRAY opened at $4.77 on Thursday. The stock has a market cap of $785.82 million, a P/E ratio of -6.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.08 and a current ratio of 3.72. The stock has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $6.09. ViewRay has a fifty-two week low of $3.79 and a fifty-two week high of $8.25.

ViewRay (NASDAQ:VRAY) last posted its quarterly earnings results on Thursday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. ViewRay had a negative return on equity of 79.12% and a negative net margin of 159.97%. The business had revenue of $19.18 million for the quarter, compared to analyst estimates of $17.05 million. During the same period last year, the company earned ($0.19) EPS. ViewRay’s revenue for the quarter was up 90.1% compared to the same quarter last year.

In other ViewRay news, major shareholder Influence Ltd Strong sold 4,000,000 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $7.02, for a total value of $28,080,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary William Stassen purchased 17,857 shares of ViewRay stock in a transaction on Friday, November 19th. The stock was bought at an average price of $5.60 per share, with a total value of $99,999.20. The disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in VRAY. Artisan Partners Limited Partnership boosted its stake in ViewRay by 14.0% during the second quarter. Artisan Partners Limited Partnership now owns 23,629,635 shares of the company’s stock valued at $155,956,000 after buying an additional 2,896,899 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of ViewRay by 141.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,778,272 shares of the company’s stock valued at $11,736,000 after purchasing an additional 1,043,183 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ViewRay by 82.9% in the 3rd quarter. Millennium Management LLC now owns 1,924,370 shares of the company’s stock valued at $13,875,000 after purchasing an additional 872,165 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of ViewRay by 13.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,733,109 shares of the company’s stock valued at $44,439,000 after purchasing an additional 812,749 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in shares of ViewRay in the 2nd quarter valued at approximately $4,920,000. 89.27% of the stock is owned by institutional investors.

ViewRay Company Profile

ViewRay, Inc designs, manufactures and markets magnetic resonance imaging (MRI) system. It develops MRIdian to address the limitations of existing external-beam radiation therapy technologies, and employs MRI-based technology to provide real-time imaging that defines the tumor from the surrounding soft tissue, and other critical organs, both before and during radiation treatment delivery.

Further Reading: Return on Investment (ROI)

Earnings History and Estimates for ViewRay (NASDAQ:VRAY)

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