5 Cheap Growth Stocks to Buy According to Billionaire Steve Cohen

In this article, we discuss the 5 cheap growth stocks to buy according to billionaire Steve Cohen. If you want to read our detailed analysis of these stocks, go directly to the 10 Cheap Growth Stocks to Buy According to Billionaire Steve Cohen.

5. ViewRay, Inc. (NASDAQ:VRAY)

Share Price as of December 13: $5.35

Number of Hedge Fund Holders: 17

Medical device company ViewRay, Inc. (NASDAQ:VRAY) sells radiation therapy systems in the US, UK, Germany, France, Taiwan, and internationally. In the nine months that ended in September, the company’s revenue grew 29% year over year to $49.7 million. The Ohio-based medical device company expects full-year revenue of $63 million – $73 million in fiscal 2021. 

Following strong Q3 results, Piper Sandler analyst Jason Bednar increased his price target for ViewRay, Inc. (NASDAQ:VRAY) to $9 from $8 and maintained an Overweight rating on the shares. Bednar highlighted ViewRay, Inc.’s (NASDAQ:VRAY) seven MRIdian orders, which increased the company’s backlog to a record $295 million.

Steve Cohen’s Point72 Asset Management increased its stake in ViewRay, Inc. (NASDAQ:VRAY) in the third quarter by 6% bringing the total shares to 1.42 million shares worth $10.2 million. New York-based investment firm Hudson Executive Capital owns 14 million shares of the medical device company worth over $106 million.