Viewray (NASDAQ:VRAY) Announces Earnings Results, Misses Expectations By $0.02 EPS
Viewray (NASDAQ:VRAY) released its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.02), Fidelity Earnings reports. The business had revenue of $14.22 million for the quarter, compared to analysts’ expectations of $5.81 million. Viewray had a negative net margin of 166.74% and a negative return on equity of 63.54%.
VRAY stock traded up $0.33 during trading on Friday, hitting $2.77. The company had a trading volume of 2,237,553 shares, compared to its average volume of 1,013,060. Viewray has a 52-week low of $1.11 and a 52-week high of $9.25. The company has a 50 day simple moving average of $2.23 and a 200-day simple moving average of $2.41. The company has a current ratio of 4.81, a quick ratio of 3.87 and a debt-to-equity ratio of 0.27.
A number of equities research analysts recently issued reports on VRAY shares. Cantor Fitzgerald started coverage on shares of Viewray in a research note on Monday, June 15th. They set a “buy” rating and a $3.00 price target on the stock. BTIG Research reissued a “hold” rating on shares of Viewray in a research note on Wednesday, June 3rd. Guggenheim downgraded shares of Viewray from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 28th. Oppenheimer reissued a “buy” rating and issued a $3.00 target price on shares of Viewray in a research note on Tuesday, June 23rd. Finally, BidaskClub raised shares of Viewray from a “strong sell” rating to a “sell” rating in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Viewray currently has an average rating of “Hold” and a consensus target price of $4.55.
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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