-$0.25 EPS Expected for ViewRay, Inc. (NASDAQ:VRAY) This Quarter

Wall Street analysts expect ViewRay, Inc. (NASDAQ:VRAY) to announce earnings of ($0.25) per share for the current quarter, Zacks reports. Two analysts have issued estimates for ViewRay’s earnings, with estimates ranging from ($0.25) to ($0.24). ViewRay posted earnings per share of ($0.32) during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.9%. The business is expected to report its next earnings results on Monday, August 21st.

On average, analysts expect that ViewRay will report full year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.94). For the next financial year, analysts forecast that the firm will report earnings of ($0.32) per share, with EPS estimates ranging from ($0.56) to ($0.10). Zacks’ EPS averages are an average based on a survey of research analysts that follow ViewRay.

ViewRay (NASDAQ:VRAY) last issued its quarterly earnings results on Monday, May 15th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $1.23 million for the quarter, compared to analyst estimates of $0.52 million. ViewRay’s quarterly revenue was down 77.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) earnings per share.

Several equities analysts recently commented on the stock. Aegis reissued a “buy” rating and issued a $11.00 price objective on shares of ViewRay in a research note on Tuesday, May 16th. Northland Securities reissued a “buy” rating and issued a $7.00 price objective on shares of ViewRay in a research note on Tuesday, May 16th. ValuEngine downgraded shares of ViewRay from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Cantor Fitzgerald assumed coverage on shares of ViewRay in a research note on Thursday, June 29th. They issued an “overweight” rating and a $10.00 price objective for the company. Finally, BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of ViewRay in a research note on Wednesday, May 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $9.50.

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new position in shares of ViewRay during the first quarter valued at about $177,000. Sequoia Financial Advisors LLC boosted its position in shares of ViewRay by 25.0% in the first quarter. Sequoia Financial Advisors LLC now owns 25,000 shares of the company’s stock valued at $213,000 after buying an additional 5,000 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ViewRay by 327.2% in the first quarter. Bank of New York Mellon Corp now owns 44,372 shares of the company’s stock valued at $377,000 after buying an additional 33,985 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of ViewRay during the first quarter valued at about $669,000. Finally, TFS Capital LLC acquired a new position in shares of ViewRay during the first quarter valued at about $251,000. Hedge funds and other institutional investors own 49.67% of the company’s stock.

Shares of ViewRay (NASDAQ:VRAY) opened at 4.73 on Friday. ViewRay has a one year low of $2.64 and a one year high of $10.39. The firm’s market cap is $271.42 million. The company has a 50 day moving average of $6.07 and a 200-day moving average of $6.21.

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About ViewRay

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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