ViewRay’s (VRAY) Buy Rating Reiterated at B. Riley

ViewRay (NASDAQ:VRAYGet Rating)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a note issued to investors on Thursday, The Fly reports.

Several other equities analysts have also weighed in on VRAY. BTIG Research reduced their price objective on ViewRay to $7.00 in a research note on Thursday, October 20th. Morgan Stanley raised their target price on shares of ViewRay from $4.50 to $5.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. Piper Sandler upped their price target on shares of ViewRay from $6.00 to $6.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 2nd. Finally, StockNews.com began coverage on ViewRay in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.60.

ViewRay Trading Down 1.7 %

Shares of NASDAQ:VRAY traded down $0.08 during trading on Thursday, hitting $4.62. 1,361,437 shares of the stock were exchanged, compared to its average volume of 895,444. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.67 and a quick ratio of 2.30. The company has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $3.39. ViewRay has a 12-month low of $2.39 and a 12-month high of $5.99.

ViewRay (NASDAQ:VRAYGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $25.47 million. ViewRay had a negative return on equity of 78.03% and a negative net margin of 121.25%. On average, research analysts expect that ViewRay will post -0.59 EPS for the current fiscal year.

Institutional Trading of ViewRay

A number of hedge funds and other institutional investors have recently modified their holdings of VRAY. Metropolitan Life Insurance Co NY grew its stake in ViewRay by 70.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,954 shares of the company’s stock valued at $33,000 after purchasing an additional 3,713 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in ViewRay in the second quarter valued at $28,000. Baird Financial Group Inc. bought a new position in ViewRay during the 1st quarter valued at $42,000. Rockefeller Capital Management L.P. grew its holdings in ViewRay by 82.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 11,100 shares of the company’s stock worth $40,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in shares of ViewRay in the 3rd quarter worth about $42,000. 86.28% of the stock is owned by hedge funds and other institutional investors.

About ViewRay

(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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