Brokerages expect Accuray Incorporated (NASDAQ:ARAY) to report sales of $98.18 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Accuray’s earnings. The highest sales estimate is $99.56 million and the lowest is $96.80 million. Accuray posted sales of $97.31 million during the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The company is scheduled to report its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Accuray will report full-year sales of $98.18 million for the current fiscal year, with estimates ranging from $399.40 million to $400.03 million. For the next fiscal year, analysts anticipate that the firm will post sales of $417.89 million per share, with estimates ranging from $417.47 million to $418.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Accuray.
Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Tuesday, January 23rd. The medical equipment provider reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. Accuray had a negative return on equity of 44.66% and a negative net margin of 6.09%. The business had revenue of $100.33 million during the quarter, compared to analysts’ expectations of $90.31 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year.
ARAY has been the subject of several analyst reports. BidaskClub cut Accuray from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research cut Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, JPMorgan Chase cut Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 price target for the company. in a research note on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.21.
Shares of Accuray stock traded down $0.15 during trading hours on Monday, hitting $4.70. 337,496 shares of the company were exchanged, compared to its average volume of 583,732. Accuray has a 1 year low of $3.60 and a 1 year high of $6.15. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.54 and a quick ratio of 0.99. The stock has a market capitalization of $413.67, a PE ratio of -13.06 and a beta of 1.73.
In other Accuray news, CEO Joshua Levine sold 8,675 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $4.65, for a total value of $40,338.75. Following the completion of the transaction, the chief executive officer now owns 1,426,753 shares in the company, valued at $6,634,401.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 14,257 shares of company stock valued at $66,295 in the last quarter. 3.90% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ARAY. The Manufacturers Life Insurance Company raised its position in Accuray by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 67,565 shares of the medical equipment provider’s stock worth $320,000 after acquiring an additional 3,246 shares in the last quarter. Bank of New York Mellon Corp raised its position in Accuray by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 634,657 shares of the medical equipment provider’s stock worth $2,538,000 after acquiring an additional 25,354 shares in the last quarter. Russell Investments Group Ltd. raised its position in Accuray by 28.8% in the third quarter. Russell Investments Group Ltd. now owns 995,904 shares of the medical equipment provider’s stock worth $3,982,000 after acquiring an additional 222,424 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Accuray in the third quarter worth $191,000. Finally, Wells Fargo & Company MN raised its position in Accuray by 52.5% in the third quarter. Wells Fargo & Company MN now owns 94,664 shares of the medical equipment provider’s stock worth $379,000 after acquiring an additional 32,605 shares in the last quarter. Hedge funds and other institutional investors own 82.00% of the company’s stock.
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Accuray Company Profile
Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.
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