Mizuho Reaffirms Buy Rating for ViewRay, Inc. (VRAY)
ViewRay, Inc. (NASDAQ:VRAY)‘s stock had its “buy” rating reaffirmed by investment analysts at Mizuho in a note issued to investors on Thursday. They presently have a $12.00 target price on the stock. Mizuho’s price objective would suggest a potential upside of 93.55% from the company’s previous close.
Several other brokerages have also recently weighed in on VRAY. Cantor Fitzgerald initiated coverage on ViewRay in a research note on Thursday, June 29th. They set an “overweight” rating and a $10.00 price objective on the stock. Aegis restated a “buy” rating and set a $11.00 price objective on shares of ViewRay in a research note on Saturday, July 22nd. Finally, ValuEngine cut ViewRay from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.00.
Shares of ViewRay (NASDAQ:VRAY) traded up 0.16% during trading on Thursday, reaching $6.20. 599,778 shares of the company were exchanged. The firm’s 50 day moving average price is $5.95 and its 200 day moving average price is $5.95. ViewRay has a one year low of $2.64 and a one year high of $10.39. The company’s market capitalization is $365.84 million.
ViewRay (NASDAQ:VRAY) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.02). The business had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.68 million. During the same quarter in the previous year, the business posted ($0.32) EPS. The company’s quarterly revenue was up 133.3% on a year-over-year basis. Equities research analysts forecast that ViewRay will post ($0.82) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in shares of ViewRay during the 1st quarter worth $484,000. Russell Investments Group Ltd. bought a new stake in shares of ViewRay during the 2nd quarter worth $1,361,000. Geode Capital Management LLC raised its stake in shares of ViewRay by 158.7% during the 1st quarter. Geode Capital Management LLC now owns 149,463 shares of the company’s stock worth $1,271,000 after purchasing an additional 91,694 shares during the period. Citadel Advisors LLC bought a new stake in shares of ViewRay during the 1st quarter worth $268,000. Finally, HighTower Advisors LLC bought a new stake in shares of ViewRay during the 1st quarter worth $170,000. Institutional investors own 53.67% of the company’s stock.
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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