Sterling Capital Management LLC increased its stake in shares of Viewray Inc (NASDAQ:VRAY) by 18.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 102,299 shares of the company’s stock after acquiring an additional 16,259 shares during the period. Sterling Capital Management LLC owned approximately 0.14% of Viewray worth $958,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Viewray by 209.7% during the 2nd quarter. Bank of America Corp DE now owns 14,710 shares of the company’s stock worth $101,000 after acquiring an additional 9,960 shares in the last quarter. Sei Investments Co. acquired a new position in Viewray during the 2nd quarter worth approximately $121,000. Metropolitan Life Insurance Co. NY acquired a new position in Viewray during the 2nd quarter worth approximately $124,000. Raymond James Financial Services Advisors Inc. acquired a new position in Viewray during the 2nd quarter worth approximately $131,000. Finally, Voya Investment Management LLC lifted its position in Viewray by 39.3% during the 2nd quarter. Voya Investment Management LLC now owns 19,006 shares of the company’s stock worth $132,000 after acquiring an additional 5,364 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
In other Viewray news, major shareholder Orbimed Advisors Llc sold 185,948 shares of Viewray stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $9.95, for a total transaction of $1,850,182.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder International Ltd Fosun purchased 2,702,702 shares of the stock in a transaction dated Thursday, August 30th. The stock was purchased at an average price of $9.25 per share, with a total value of $24,999,993.50. The disclosure for this purchase can be found here. 43.93% of the stock is owned by insiders.
VRAY stock opened at $6.63 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.64 and a current ratio of 3.33. Viewray Inc has a 52-week low of $6.05 and a 52-week high of $13.21.
Viewray (NASDAQ:VRAY) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.17). Viewray had a negative return on equity of 353.05% and a negative net margin of 83.84%. The business had revenue of $17.70 million for the quarter, compared to analysts’ expectations of $17.77 million. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. Viewray’s revenue for the quarter was up 45.1% compared to the same quarter last year. Sell-side analysts expect that Viewray Inc will post -0.8 earnings per share for the current year.
Several equities analysts recently commented on the company. Robert W. Baird assumed coverage on Viewray in a research report on Thursday, October 18th. They set an “outperform” rating and a $14.00 price target on the stock. BidaskClub lowered Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. BTIG Research reissued a “buy” rating and set a $14.00 price target on shares of Viewray in a research report on Tuesday, August 7th. ValuEngine lowered Viewray from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $13.00 price target on shares of Viewray in a research report on Wednesday, October 3rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.79.
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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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