ViewRay shares dip despite Q1 earnings Beat
Summary
Shares in ViewRay (NSDQ:VRAY) fell today despite the medical device maker posting first quarter earnings that beat expectations on Wall Street. The Cleveland-based company posted losses of $7.5 million, or 11¢ per share, on sales of $26.2 million for the three months ended March 31, seeing losses shrink 73% while sales grew over 2000% compared with the same period during the previous year. Losses per share were ahead of the 19¢ consensus on Wall Street, where analysts expected to see sales of $12.1 million, which the company handily topped. The growing interest in our technology was demonstrated by the attendance of hundreds of oncology experts at our recent symposia in Amsterdam and at ESTRO in Barcelona, who heard about the compelling advantages of the MRIdian System in clinical use,” prez & CEO Chris Raanes said in a press release. Despite the positive posting, shares have fallen 3.6% today, at $7.46 as of 10:46 p.m. EDT.
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