Analysts Expect Viewray Inc (VRAY) Will Announce Quarterly Sales of $18.50 Million
Brokerages expect that Viewray Inc (NASDAQ:VRAY) will report $18.50 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Viewray’s earnings, with the highest sales estimate coming in at $18.90 million and the lowest estimate coming in at $18.10 million. Viewray reported sales of $360,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 5,038.9%. The business is scheduled to announce its next earnings results on Monday, November 13th.
According to Zacks, analysts expect that Viewray will report full year sales of $18.50 million for the current fiscal year, with estimates ranging from $46.00 million to $49.58 million. For the next financial year, analysts expect that the firm will report sales of $96.91 million per share, with estimates ranging from $74.72 million to $119.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Viewray.
Viewray (NASDAQ:VRAY) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.02). The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.68 million. The company’s quarterly revenue was up 133.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) EPS.
A number of brokerages have recently commented on VRAY. ValuEngine lowered shares of Viewray from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Aegis reissued a “buy” rating and issued a $11.00 price target on shares of Viewray in a report on Saturday, July 22nd. Mizuho began coverage on shares of Viewray in a report on Wednesday, September 6th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Viewray in a report on Thursday, June 29th. They issued an “overweight” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $10.00.
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Shares of Viewray (VRAY) opened at 6.20 on Friday. The firm has a 50-day moving average of $5.96 and a 200-day moving average of $5.96. Viewray has a 12 month low of $2.64 and a 12 month high of $10.39. The firm’s market cap is $365.84 million.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Viewray by 67.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,026,880 shares of the company’s stock worth $6,644,000 after buying an additional 411,866 shares during the last quarter. State Street Corp increased its holdings in shares of Viewray by 631.7% in the 2nd quarter. State Street Corp now owns 395,418 shares of the company’s stock worth $2,555,000 after buying an additional 341,376 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Viewray by 2,447.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 286,365 shares of the company’s stock worth $1,853,000 after buying an additional 275,123 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Viewray in the 2nd quarter worth $1,361,000. Finally, EAM Investors LLC increased its holdings in shares of Viewray by 7.0% in the 2nd quarter. EAM Investors LLC now owns 202,713 shares of the company’s stock worth $1,312,000 after buying an additional 13,243 shares during the last quarter. 53.67% of the stock is currently owned by hedge funds and other institutional investors.
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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