In the latest trading session, ViewRay (VRAY - Free Report) closed at $8.37, marking a -1.59% move from the previous day. This change was narrower than the S&P 500's 1.9% loss on the day. Meanwhile, the Dow lost 1.77%, and the Nasdaq, a tech-heavy index, lost 2.5%.
Heading into today, shares of the radiation therapy systems maker had gained 2.91% over the past month, outpacing the Medical sector's gain of 2.84% and lagging the S&P 500's gain of 3.04% in that time.
Investors will be hoping for strength from VRAY as it approaches its next earnings release. In that report, analysts expect VRAY to post earnings of -$0.22 per share. This would mark a year-over-year decline of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.98 million, down 19.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.82 per share and revenue of $118.57 million, which would represent changes of +16.33% and +46.45%, respectively, from the prior year.
Any recent changes to analyst estimates for VRAY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.49% lower. VRAY is currently a Zacks Rank #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.