ViewRay Inc. (NASDAQ: VRAY): The Best-Of-Breed For Investing?

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    Hudson Executive Capital LP recently announced the acquisition of new stake in ViewRay Inc. (NASDAQ:VRAY). This fresh investment now brings its stake to 8.84% valued currently at $29.18 million. In addition, FIAM LLC raised its holdings by 0.61 million to 10.47 million shares. And Artisan Partners LP has lifted its position by 47.47% or 2.87 million shares – to 8.93 million shares.

    With over 0.86 million ViewRay Inc. (VRAY) shares trading Friday and a closing price of $2.43 on the day, the dollar volume was approximately $2.08 million. The shares have shown a positive weekly performance of 6.58% and its price on 07/24/20 gained nearly 1.67%. Currently, there are 147.46M common shares owned by the public and among those 109.61M shares have been available to trade.

    Incidentally, analysts’ outlook for the ViewRay Inc. stock is 2.40 for the next 12 months.

    Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 6,850,331 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 1,091,033 shares.

    The top 3 mutual fund holders in ViewRay Inc. are Fidelity Select Medical Technolog, Artisan International Small-Mid F, and Stichting Pensioenfonds ABP (Glob. Fidelity Select Medical Technolog owns 8.0 million shares of the company’s stock, all valued at over $17.92 million. The company bought an additional 2.2 million shares recently to bring their total holdings to about 5.43% of the shares outstanding. Artisan International Small-Mid F bought 1.65 million shares to see its total holdings expand to 4.61 million shares valued at over $10.34 million and representing 3.13% of the shares outstanding. Stichting Pensioenfonds ABP (Glob bought 1.84 million shares to bring its total holdings to over 3.72 million shares at a value of $8.34 million. Stichting Pensioenfonds ABP (Glob now owns shares totaling to 2.53% of the shares outstanding.

    Shares of ViewRay Inc. (NASDAQ: VRAY) opened at $2.42, up $0.03 from a prior closing price of $2.39. However, the script later closed the day at $2.43, up 1.67%. The company’s stock has a 5-day price change of 6.58% and 10.45% over the past three months. VRAY shares are trading -42.42% year to date (YTD), with the 12-month market performance down to -74.18% lower. It has a 12-month low price of $1.11 and touched a high of $9.66 over the same period. Currently, 0.86 million shares have been traded, compared to an average intraday trading volume of 1.57 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.63%, 14.90%, and -9.92% respectively.

    Institutional ownership of ViewRay Inc. (NASDAQ: VRAY) shares accounts for 92.50% of the company’s 147.46M shares outstanding. Mutual fund holders own 31.75%, while other institutional holders and individual stakeholders account for 40.77% and 30.61% respectively.

    It has a market capitalization of $364.50M and a beta (3y monthly) value of 0.81. The earnings-per-share (ttm) stands at -$1.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.97% over the week and 8.86% over the month.

    Analysts forecast that ViewRay Inc. (VRAY) will achieve an EPS of -$0.16 for the current quarter, -$0.16 for the next quarter and -$0.66 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -20.80%, and 0.00% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -5.90% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate ViewRay Inc. (VRAY) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 3 of the 9 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the VRAY, a number of firms have released research notes about the stock. Cantor Fitzgerald stated their Overweight rating for the stock in a research note on June 16, 2020, with the firm’s price target at $3. Guggenheim coverage for the ViewRay Inc. (VRAY) stock in a research note released on April 28, 2020 offered a Neutral rating with a price target of . Morgan Stanley was of a view on March 27, 2020 that the stock is Underweight, while BTIG Research gave the stock Neutral rating on March 13, 2020, issuing a price target of . B. Riley FBR on their part issued Neutral rating on December 04, 2019.

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