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ViewRay (VRAY) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, ViewRay (VRAY - Free Report) closed at $7.72, marking a -0.13% move from the previous day. This change lagged the S&P 500's 0.21% gain on the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.

Coming into today, shares of the radiation therapy systems maker had lost 6.87% in the past month. In that same time, the Medical sector lost 0.07%, while the S&P 500 gained 2.57%.

Investors will be hoping for strength from VRAY as it approaches 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.

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 revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 8.49% lower. VRAY is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 40% 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.

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