ViewRay (VRAY) closed at $7.39 in the latest trading session, marking a -0.4% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.82%, and the tech-heavy Nasdaq gained 0.78%.
Coming into today, shares of the radiation therapy systems maker had lost 12.5% in the past month. In that same time, the Medical sector gained 0.38%, while the S&P 500 gained 1.25%.
VRAY will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.22, down 100% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $20.98 million, down 19.91% from the prior-year quarter.
VRAY's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $118.57 million. These results would represent year-over-year changes of +16.33% and +46.45%, respectively.
It is also important to note the recent changes to analyst estimates for VRAY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 8.49% lower within the past month. VRAY is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
ViewRay, Inc. (VRAY): Free Stock Analysis Report
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