Viewray (NASDAQ:VRAY) Downgraded to “Sell” at BidaskClub

Viewray (NASDAQ:VRAY) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

Several other research analysts also recently weighed in on VRAY. TheStreet downgraded shares of Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. Piper Jaffray Companies cut their price target on Cactus from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 18th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Zacks Investment Research downgraded Garrett Motion from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Cantor Fitzgerald set a $13.00 price target on Viewray and gave the stock a “buy” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $12.95.

Viewray stock traded down $0.02 during midday trading on Wednesday, hitting $9.22. 872,900 shares of the company’s stock were exchanged, compared to its average volume of 1,114,736. Viewray has a 12-month low of $4.86 and a 12-month high of $13.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.21 and a current ratio of 4.28. The stock has a market cap of $887.12 million, a PE ratio of -9.36 and a beta of 0.79. The business has a 50 day moving average price of $8.72.

Viewray (NASDAQ:VRAY) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.12). Viewray had a negative return on equity of 71.16% and a negative net margin of 139.82%. The business had revenue of $20.30 million for the quarter, compared to analysts’ expectations of $20.40 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was down 22.5% on a year-over-year basis. Research analysts anticipate that Viewray will post -1 earnings per share for the current fiscal year.

In related news, insider James F. Dempsey sold 5,146 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $8.63, for a total transaction of $44,409.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Falcon Point Capital LLC grew its stake in Viewray by 43.3% during the second quarter. Falcon Point Capital LLC now owns 25,556 shares of the company’s stock worth $225,000 after purchasing an additional 7,722 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Viewray by 3.0% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 587,784 shares of the company’s stock valued at $4,344,000 after buying an additional 17,259 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Viewray during the first quarter valued at approximately $1,844,000. Marshall Wace LLP boosted its position in shares of Viewray by 47.1% during the first quarter. Marshall Wace LLP now owns 131,179 shares of the company’s stock valued at $970,000 after buying an additional 42,015 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its position in shares of Viewray by 33.1% during the first quarter. Granite Investment Partners LLC now owns 1,058,154 shares of the company’s stock valued at $7,820,000 after buying an additional 263,128 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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