ViewRay Inc. (NASDAQ: VRAY) stock jumped 1.26% on Tuesday to $4.81 against a previous-day closing price of $4.75. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.8 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $4.8350 whereas the lowest price it dropped to was $4.7250. The 52-week range on VRAY shows that it touched its highest point at $4.96 and its lowest point at $2.39 during that stretch. It currently has a 1-year price target of $7.12. Beta for the stock currently stands at 1.02.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VRAY was up-trending over the past week, with a rise of 1.26%, but this was up by 5.95% over a month. Three-month performance surged to 22.39% while six-month performance rose 62.50%. The stock gained 8.09% in the past year, while it has gained 7.37% so far this year. A look at the trailing 12-month EPS for VRAY yields -0.60 with Next year EPS estimates of -0.58. For the next quarter, that number is -0.16. This implies an EPS growth rate of 8.30% for this year and 3.30% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.90%.
Float and Shares Shorts:
At present, 181.05 million VRAY shares are outstanding with a float of 176.29 million shares on hand for trading. On Oct 13, 2022, short shares totaled 8.53 million, which was 4.71% higher than short shares on Sep 14, 2022. In addition to Mr. Scott William Drake as the firm’s Pres, CEO & Director, Mr. Zachary William Stassen serves as its Chief Financial Officer.
Through their ownership of 87.98% of VRAY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.66% of VRAY, in contrast to 38.95% held by mutual funds. Shares owned by individuals account for 31.56%. As the largest shareholder in VRAY with 9.51% of the stake, Artisan Partners LP holds 17,242,918 shares worth 17,242,918. A second-largest stockholder of VRAY, Hudson Executive Capital LP, holds 15,752,093 shares, controlling over 8.68% of the firm’s shares. Pura Vida Investments LLC is the third largest shareholder in VRAY, holding 13,664,939 shares or 7.53% stake. With a 6.00% stake in VRAY, the Artisan International Small-Mid F is the largest stakeholder. A total of 10,892,241 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.79% of VRAY stock, is the second-largest Mutual Fund holder. It holds 5,066,099 shares valued at 22.7 million. Baron Discovery Fund holds 2.24% of the stake in VRAY, owning 4,060,000 shares worth 18.19 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VRAY since 8 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VRAY analysts setting a high price target of $8.00 and a low target of $5.50, the average target price over the next 12 months is $7.13. Based on these targets, VRAY could surge 66.32% to reach the target high and rise by 14.35% to reach the target low. Reaching the average price target will result in a growth of 48.23% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VRAY will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$0.58 being high and -$0.61 being low. For VRAY, this leads to a yearly average estimate of -$0.59. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. ViewRay Inc. surprised analysts by -$0.00 when it reported -$0.14 EPS against a consensus estimate of -$0.14. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is -$0.15 and the low estimate is -$0.17. The average estimate for the next quarter is thus -$0.16.
Summary of Insider Activity:
Insiders traded VRAY stock several times over the past three months with 12 Buys and 1 Sells. In these transactions, 104,316 shares were bought while 96,546 shares were sold. The number of buy transactions has increased to 50 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 3,245,875 while 640,872 shares were sold.