B. Riley Comments on ViewRay, Inc.’s Q3 2022 Earnings (NASDAQ:VRAY)

ViewRay, Inc. (NASDAQ:VRAYGet Rating) – Equities researchers at B. Riley issued their Q3 2022 earnings per share (EPS) estimates for shares of ViewRay in a report issued on Tuesday, May 10th. B. Riley analyst J. Walsh expects that the company will earn ($0.17) per share for the quarter. B. Riley also issued estimates for ViewRay’s Q4 2022 earnings at ($0.19) EPS, FY2022 earnings at ($0.67) EPS, FY2023 earnings at ($0.60) EPS and FY2024 earnings at ($0.51) EPS.

ViewRay (NASDAQ:VRAYGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.14) 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 for the quarter, compared to analyst estimates of $15.62 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The business’s revenue was up 21.6% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. StockNews.com began coverage on ViewRay in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research upgraded ViewRay from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research report on Wednesday. Piper Sandler cut their target price on ViewRay from $9.00 to $7.00 in a research report on Friday, May 6th. Finally, Stifel Nicolaus began coverage on ViewRay in a research report on Tuesday, January 25th. They set a “buy” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $5.94.

NASDAQ VRAY opened at $3.30 on Thursday. ViewRay has a 12 month low of $2.39 and a 12 month 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. The business’s 50-day moving average price is $3.46 and its two-hundred day moving average price is $4.53. The firm has a market capitalization of $595.51 million, a PE ratio of -5.16 and a beta of 1.12.

In other news, Director Caley Castelein purchased 1,065,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average cost of $2.54 per share, with a total value of $2,705,100.00. Following the purchase, the director now owns 1,545,600 shares in the company, valued at $3,925,824. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schnabel acquired 10,000 shares of the stock in a transaction dated Thursday, March 10th. The stock was bought at an average cost of $3.80 per share, with a total value of $38,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,225,000 shares of company stock worth $3,139,600. 4.80% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Silverarc Capital Management LLC raised its stake in shares of ViewRay by 1.9% in the first quarter. Silverarc Capital Management LLC now owns 436,096 shares of the company’s stock worth $1,709,000 after purchasing an additional 8,249 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ViewRay in the first quarter worth approximately $1,292,000. Northern Trust Corp raised its stake in shares of ViewRay by 2.8% in the first quarter. Northern Trust Corp now owns 1,510,064 shares of the company’s stock worth $5,920,000 after purchasing an additional 41,058 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of ViewRay in the first quarter worth approximately $116,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ViewRay by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,127,293 shares of the company’s stock valued at $4,419,000 after acquiring an additional 136,451 shares during the last quarter. 86.04% of the stock is owned by hedge funds and other institutional investors.

ViewRay Company Profile (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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Earnings History and Estimates for ViewRay (NASDAQ:VRAY)

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