Zacks Investment Research upgraded shares of Viewray (NASDAQ:VRAY) from a hold rating to a buy rating in a research report released on Saturday morning. The brokerage currently has $8.25 target price on the stock.
According to Zacks, “ViewRay Inc. is a medical device company. The company develops advanced radiation therapy technology for the treatment of cancer. MRIdian system provides continuous soft-tissue imaging during treatment. ViewRay Inc. is headquartered in Oakwood Village, Ohio. “
Get Viewray alerts:VRAY has been the topic of several other reports. Cantor Fitzgerald reaffirmed a buy rating and issued a $13.00 target price on shares of Viewray in a research report on Thursday, December 6th. ValuEngine lowered Viewray from a buy rating to a hold rating in a research report on Tuesday, January 29th. Morgan Stanley started coverage on Viewray in a research report on Tuesday, December 11th. They issued an equal weight rating and a $7.00 target price on the stock. BidaskClub raised Viewray from a sell rating to a hold rating in a research report on Tuesday, January 1st. Finally, Northland Securities reaffirmed a buy rating and issued a $20.00 target price on shares of Viewray in a research report on Thursday, December 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $12.69.
Shares of Viewray stock opened at $7.60 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.47 and a quick ratio of 5.56. Viewray has a 1 year low of $4.86 and a 1 year high of $13.21. The stock has a market capitalization of $717.97 million, a P/E ratio of -7.31 and a beta of 1.25.
Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC increased its position in Viewray by 39.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,006 shares of the company’s stock worth $132,000 after purchasing an additional 5,364 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Viewray during the 3rd quarter valued at about $562,000. Fosun International Ltd increased its holdings in shares of Viewray by 19.6% during the 3rd quarter. Fosun International Ltd now owns 16,471,258 shares of the company’s stock valued at $154,170,000 after acquiring an additional 2,702,702 shares during the last quarter. Oracle Investment Management Inc. acquired a new position in shares of Viewray during the 3rd quarter valued at about $2,030,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Viewray during the 3rd quarter valued at about $190,000. 97.86% of the stock is currently owned by institutional investors.
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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