Mizuho Reaffirms “Buy” Rating for ViewRay, Inc. (VRAY)
ViewRay, Inc. (NASDAQ:VRAY)‘s stock had its “buy” rating reissued by stock analysts at Mizuho in a research report issued on Friday. They currently have a $12.00 price objective on the stock.
VRAY has been the topic of a number of other research reports. Aegis reissued a “buy” rating and issued a $11.00 price objective on shares of ViewRay in a research note on Saturday, July 22nd. ValuEngine lowered ViewRay from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $10.00.
ViewRay (NASDAQ:VRAY) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.02). The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.68 million. During the same quarter in the previous year, the company earned ($0.32) earnings per share. The business’s quarterly revenue was up 133.3% on a year-over-year basis.
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Several hedge funds have recently modified their holdings of VRAY. Vanguard Group Inc. grew its holdings in shares of ViewRay by 67.0% during the second quarter. Vanguard Group Inc. now owns 1,026,880 shares of the company’s stock valued at $6,644,000 after buying an additional 411,866 shares in the last quarter. State Street Corp grew its holdings in shares of ViewRay by 631.7% during the second quarter. State Street Corp now owns 395,418 shares of the company’s stock valued at $2,555,000 after buying an additional 341,376 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of ViewRay by 2,447.3% during the second quarter. TIAA CREF Investment Management LLC now owns 286,365 shares of the company’s stock valued at $1,853,000 after buying an additional 275,123 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of ViewRay during the second quarter valued at $1,361,000. Finally, Falcon Point Capital LLC purchased a new position in shares of ViewRay during the second quarter valued at $664,000. Institutional investors and hedge funds own 53.70% 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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