B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Viewray (NASDAQ: VRAY) on August 3. The company’s shares opened today at $11.01.
D’silva noted:
“ViewRay, Inc. (VRAY) reported 2Q18 results BMO today, 8/3, and held a conference call at 8:30am ET. VRAY posted a top-line/EPS of $16.4M/($0.30) versus our/consensus estimates of $15.9M/($0.21) and $13.7M/($0.20), respectively. The top-line beat was primarily tied to slightly stronger product and service revenue than we expected. VRAY’s bottom line was primarily impacted by non-operating and one-time charges, which resulted in a ~$4.6M hit to the bottom line and were from the combination of ~$1.9M in other expense (primarily tied to changes in warrant liabilities) and a $2.7M inventory valuation adjustment (which impacted GMs), which together decreased EPS by ~$0.07. We do not view benefits or impacts from these items as part of VRAY’s operating business.”
According to TipRanks.com, D’silva is a 5-star analyst with an average return of 26.9% and a 52.6% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Oramed Pharmaceuticals, and Sorrento Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $13.60 average price target, representing a 23.5% upside. In a report issued on July 24, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $13 price target.
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The company has a one-year high of $13.21 and a one-year low of $5.11. Currently, Viewray has an average volume of 1.11M.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
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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.
