Analysts expect Viewray Inc (NASDAQ:VRAY) to post sales of $5.81 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Viewray’s earnings, with the lowest sales estimate coming in at $2.80 million and the highest estimate coming in at $9.12 million. Viewray posted sales of $30.17 million during the same quarter last year, which suggests a negative year over year growth rate of 80.7%. The business is expected to report its next earnings report on Thursday, August 13th.

According to Zacks, analysts expect that Viewray will report full year sales of $50.87 million for the current year, with estimates ranging from $45.19 million to $59.48 million. For the next fiscal year, analysts forecast that the business will report sales of $84.97 million, with estimates ranging from $69.60 million to $92.33 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Viewray.

Viewray (NASDAQ:VRAY) last released its earnings results on Thursday, April 30th. The company reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). Viewray had a negative net margin of 139.91% and a negative return on equity of 71.37%. The company had revenue of $14.25 million for the quarter, compared to analysts’ expectations of $12.47 million.

Several brokerages recently issued reports on VRAY. Cantor Fitzgerald assumed coverage on Viewray in a research note on Monday, June 15th. They set a “buy” rating and a $3.00 target price on the stock. BTIG Research reiterated a “hold” rating on shares of Viewray in a research report on Wednesday, June 3rd. Zacks Investment Research raised shares of Viewray from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a report on Saturday, May 9th. Morgan Stanley cut shares of Viewray from an “equal weight” rating to an “underweight” rating and set a $2.00 target price for the company. in a research note on Friday, March 27th. Finally, B. Riley decreased their price target on shares of Viewray from $5.00 to $2.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $4.55.

Shares of Viewray stock traded up $0.10 during trading hours on Thursday, hitting $2.05. The company’s stock had a trading volume of 892,600 shares, compared to its average volume of 2,239,910. The company has a market cap of $319.86 million, a PE ratio of -1.99 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.87 and a current ratio of 4.81. The business has a 50 day moving average price of $2.02 and a two-hundred day moving average price of $2.72. Viewray has a 12-month low of $1.11 and a 12-month high of $9.76.

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Viewray by 3,805.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,232 shares of the company’s stock valued at $43,000 after acquiring an additional 9,970 shares during the last quarter. Marshall Wace LLP purchased a new stake in Viewray during the fourth quarter valued at approximately $50,000. Citigroup Inc. lifted its stake in shares of Viewray by 522.5% in the 4th quarter. Citigroup Inc. now owns 15,145 shares of the company’s stock valued at $64,000 after purchasing an additional 12,712 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Viewray in the 1st quarter worth approximately $40,000. Finally, Jefferies Group LLC bought a new position in shares of Viewray during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 87.42% of the company’s stock.

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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