Wall Street analysts expect that Accuray Incorporated (NASDAQ:ARAY) will post sales of $91.29 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Accuray’s earnings, with the highest sales estimate coming in at $92.00 million and the lowest estimate coming in at $90.58 million. Accuray posted sales of $87.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The company is expected to issue its next earnings report on Tuesday, January 30th.
According to Zacks, analysts expect that Accuray will report full-year sales of $91.29 million for the current fiscal year, with estimates ranging from $397.70 million to $398.53 million. For the next year, analysts anticipate that the business will post sales of $415.27 million per share, with estimates ranging from $415.03 million to $415.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Accuray.
Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. Accuray had a negative net margin of 7.49% and a negative return on equity of 55.18%. The company had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $88.26 million. During the same period in the prior year, the firm earned ($0.12) EPS. Accuray’s quarterly revenue was up 5.2% compared to the same quarter last year.
A number of brokerages have issued reports on ARAY. Jefferies Group LLC restated a “buy” rating and set a $7.00 target price on shares of Accuray in a research report on Wednesday, August 9th. Royal Bank Of Canada restated a “hold” rating and set a $5.00 target price on shares of Accuray in a research report on Thursday, August 24th. BTIG Research restated a “hold” rating on shares of Accuray in a research report on Thursday, August 24th. Zacks Investment Research upgraded shares of Accuray from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, BidaskClub lowered shares of Accuray from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Accuray presently has a consensus rating of “Hold” and a consensus price target of $6.29.
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In related news, COO Kelly Londy sold 99,136 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $4.24, for a total transaction of $420,336.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Accuray by 27.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 858,013 shares of the medical equipment provider’s stock valued at $4,076,000 after purchasing an additional 185,519 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Accuray by 2.0% in the 2nd quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock valued at $20,857,000 after purchasing an additional 85,400 shares during the last quarter. PDT Partners LLC lifted its stake in Accuray by 60.5% in the 2nd quarter. PDT Partners LLC now owns 156,500 shares of the medical equipment provider’s stock valued at $743,000 after purchasing an additional 58,985 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Accuray by 13.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 773,480 shares of the medical equipment provider’s stock valued at $3,673,000 after purchasing an additional 91,267 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in Accuray by 83.5% in the 2nd quarter. Teachers Advisors LLC now owns 235,490 shares of the medical equipment provider’s stock valued at $1,119,000 after purchasing an additional 107,178 shares during the last quarter. 75.47% of the stock is owned by institutional investors and hedge funds.
Shares of Accuray (NASDAQ:ARAY) traded up $0.20 during trading hours on Thursday, hitting $4.90. 1,043,623 shares of the company’s stock were exchanged, compared to its average volume of 680,327. Accuray has a 1 year low of $3.60 and a 1 year high of $6.00. The company has a current ratio of 1.48, a quick ratio of 0.92 and a debt-to-equity ratio of 2.44.
Accuray Company Profile
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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