Equities research analysts predict that Accuray Incorporated (NASDAQ:ARAY) will announce sales of $104.01 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Accuray’s earnings. The lowest sales estimate is $103.60 million and the highest is $104.42 million. Accuray posted sales of $100.33 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 22nd.
On average, analysts expect that Accuray will report full-year sales of $422.12 million for the current fiscal year, with estimates ranging from $421.50 million to $422.73 million. For the next financial year, analysts forecast that the business will post sales of $442.49 million, with estimates ranging from $439.67 million to $445.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Accuray.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.02). The firm had revenue of $95.83 million during the quarter, compared to analysts’ expectations of $95.10 million. Accuray had a negative return on equity of 42.15% and a negative net margin of 5.79%. During the same period in the previous year, the company earned ($0.11) earnings per share.
Several brokerages recently weighed in on ARAY. BTIG Research reaffirmed a “hold” rating on shares of Accuray in a research note on Wednesday, August 22nd. Citigroup raised Accuray from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $3.50 to $3.90 in a report on Thursday, November 1st. BidaskClub downgraded Accuray from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $6.00 target price on shares of Accuray in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Accuray has a consensus rating of “Hold” and an average price target of $6.36.
ARAY stock traded up $0.09 during midday trading on Thursday, hitting $4.88. The stock had a trading volume of 793,327 shares, compared to its average volume of 737,149. The stock has a market cap of $410.86 million, a price-to-earnings ratio of -17.43 and a beta of 1.60. Accuray has a 52-week low of $3.20 and a 52-week high of $6.15. The company has a quick ratio of 1.04, a current ratio of 1.68 and a debt-to-equity ratio of 2.70.
In other Accuray news, CFO Shigeyuki Hamamatsu sold 8,762 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $4.48, for a total value of $39,253.76. Following the sale, the chief financial officer now directly owns 116,238 shares of the company’s stock, valued at $520,746.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joshua Levine sold 18,742 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $4.69, for a total value of $87,899.98. Following the transaction, the chief executive officer now directly owns 1,355,551 shares in the company, valued at $6,357,534.19. The disclosure for this sale can be found here. Insiders sold 48,378 shares of company stock worth $218,502 over the last three months. Corporate insiders own 3.40% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Accuray by 8.9% during the second quarter. BlackRock Inc. now owns 8,807,077 shares of the medical equipment provider’s stock valued at $36,110,000 after purchasing an additional 716,406 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Accuray by 4.9% during the second quarter. Renaissance Technologies LLC now owns 4,890,600 shares of the medical equipment provider’s stock valued at $20,051,000 after purchasing an additional 229,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Accuray by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,111,717 shares of the medical equipment provider’s stock valued at $8,658,000 after purchasing an additional 237,612 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Accuray by 6.9% during the second quarter. Royce & Associates LP now owns 2,099,812 shares of the medical equipment provider’s stock valued at $8,609,000 after purchasing an additional 135,785 shares in the last quarter. Finally, Global X Management Co LLC lifted its holdings in shares of Accuray by 6.3% during the second quarter. Global X Management Co LLC now owns 1,561,832 shares of the medical equipment provider’s stock valued at $6,404,000 after purchasing an additional 92,066 shares in the last quarter. 83.56% of the stock is currently owned by hedge funds and other institutional investors.
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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