Here's Why ViewRay, Inc. Is Rising Today

After the company announced that it has received orders for a pair of MRIdian Linac systems, shares of ViewRay (NASDAQ: VRAY), a small-cap company focused on radiation therapy, jumped 17% as of 1:35 p.m. EDT on Friday.

ViewRay stated that its MRIdian Linac system was selected for installation at two leading hospitals in Denmark. The company's systems were chosen as part of a collaborative bid with Varian Medical Systems.

Selling two systems might not sound like a big deal, but it is. ViewRay's guidance for all of 2017 calls for $45 million to $50 million in sales based on the sale of only seven or eight systems. This implies that each system costs more than $6 million, so adding two more systems to the company's backlog is meaningful.

Source: Fool.com