Analysts expect that Accuray Incorporated (NASDAQ:ARAY) will post $98.18 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Accuray’s earnings, with the highest sales estimate coming in at $99.56 million and the lowest estimate coming in at $96.80 million. Accuray posted sales of $97.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The business is scheduled to report its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Accuray will report full year sales of $98.18 million for the current year, with estimates ranging from $399.40 million to $400.03 million. For the next financial year, analysts forecast that the business will report sales of $417.89 million per share, with estimates ranging from $417.47 million to $418.30 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Accuray.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, January 23rd. The medical equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. Accuray had a negative net margin of 6.09% and a negative return on equity of 44.66%. The firm had revenue of $100.33 million for the quarter, compared to analysts’ expectations of $90.31 million. During the same period in the previous year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis.
A number of equities research analysts have recently issued reports on ARAY shares. BidaskClub cut shares of Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. JPMorgan Chase & Co. cut shares of Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 target price on the stock. in a report on Wednesday, December 13th. Zacks Investment Research raised shares of Accuray from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday, February 21st. Lake Street Capital started coverage on shares of Accuray in a report on Thursday, November 30th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Royal Bank of Canada set a $6.00 target price on shares of Accuray and gave the company a “hold” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.21.
Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in Accuray by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 62,059 shares of the medical equipment provider’s stock valued at $295,000 after buying an additional 936 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Accuray by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,565 shares of the medical equipment provider’s stock worth $320,000 after purchasing an additional 3,246 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Accuray by 16.4% during the 2nd quarter. Voya Investment Management LLC now owns 44,373 shares of the medical equipment provider’s stock worth $211,000 after purchasing an additional 6,262 shares in the last quarter. Cowen Prime Services LLC grew its position in shares of Accuray by 8.8% during the 4th quarter. Cowen Prime Services LLC now owns 193,599 shares of the medical equipment provider’s stock worth $832,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its position in shares of Accuray by 5.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 291,716 shares of the medical equipment provider’s stock worth $1,167,000 after purchasing an additional 16,216 shares in the last quarter. 82.00% of the stock is currently owned by institutional investors.
Shares of Accuray stock traded down $0.08 during trading hours on Friday, reaching $5.32. 131,560 shares of the company’s stock traded hands, compared to its average volume of 1,014,372. The company has a quick ratio of 0.99, a current ratio of 1.54 and a debt-to-equity ratio of 2.66. Accuray has a 52-week low of $3.60 and a 52-week high of $6.15. The company has a market cap of $460.58, a PE ratio of -18.53 and a beta of 1.71.
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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