BTIG analyst Sean Lavin maintained a Buy rating on Viewray (VRAY) on November 9 and set a price target of $13. The company’s shares closed on Friday at $6.63, close to its 52-week low of $6.05.
Lavin observed:
“with Investors VRAY revenue and orders were relatively in line with the Street, but 2018 sales guidance was cut to $80M from the prior $85M midpoint as flooding at one center will delay a system installation. Management distanced itself from prior gross margin targets and plans to hire and invest more in the business. In our view, 2019 is shaping up to be a year of “in progress” work on initiatives like system reliability, service, and training. Much of this is likely necessary to elevate VRAY’s commercial/operating infrastructure, but we think some investors may be growing weary of higher spend; this may pressure shares Friday.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 11.6% and a 60.6% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $14.35 average price target, implying an 116.4% upside from current levels. In a report issued on November 9, Mizuho Securities also maintained a Buy rating on the stock with a $12 price target.
.
See today’s analyst top recommended stocks >>
Based on Viewray’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $32.85 million. In comparison, last year the company had a GAAP net loss of $11.22 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
ViewRay, Inc. engages in the research, development, and manufacture of magnetic resonance imaging (MRI) system. Its product includes MRIdian, which supports image-guided radiation therapy, stereotactic radiation therapy, and radiosurgery. The company was founded by Dinara Akzhigitova on September 6, 2013 and is headquartered in Oakwood Village, OH.
