Brokerages expect that Accuray Incorporated (NASDAQ:ARAY) will announce earnings of $0.03 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Accuray’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.01. Accuray posted earnings of ($0.01) per share during the same quarter last year, which would indicate a positive year over year growth rate of 400%. The company is scheduled to issue its next quarterly earnings report on Thursday, August 15th.
On average, analysts expect that Accuray will report full year earnings of ($0.16) per share for the current year, with EPS estimates ranging from ($0.20) to ($0.12). For the next year, analysts expect that the business will post earnings of ($0.02) per share, with EPS estimates ranging from ($0.08) to $0.07. Zacks Investment Research’s EPS calculations 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, April 23rd. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $103.22 million during the quarter, compared to analyst estimates of $104.02 million. Accuray had a negative net margin of 3.85% and a negative return on equity of 25.91%.
ARAY has been the subject of several analyst reports. BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. BTIG Research initiated coverage on shares of in a research note on Wednesday, April 24th. They issued a “buy” rating and a $5.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.13.
Shares of ARAY stock traded up $0.03 on Wednesday, hitting $3.63. The company’s stock had a trading volume of 359,843 shares, compared to its average volume of 776,922. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.71 and a quick ratio of 1.03. Accuray has a fifty-two week low of $3.00 and a fifty-two week high of $5.40. The firm’s fifty day moving average price is $3.73. The firm has a market cap of $317.75 million, a PE ratio of -12.96 and a beta of 1.86.
In related news, insider Andrew J. Kirkpatrick sold 8,222 shares of Accuray stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.75, for a total value of $30,832.50. Following the completion of the sale, the insider now owns 232,414 shares of the company’s stock, valued at approximately $871,552.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joshua Levine sold 56,426 shares of Accuray stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $3.75, for a total transaction of $211,597.50. Following the completion of the transaction, the chief executive officer now owns 977,167 shares in the company, valued at approximately $3,664,376.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,569 shares of company stock valued at $250,191. 3.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in Accuray in the 1st quarter worth $298,000. EAM Global Investors LLC bought a new position in Accuray in the 1st quarter worth $1,226,000. Acadian Asset Management LLC raised its holdings in Accuray by 429.2% in the 1st quarter. Acadian Asset Management LLC now owns 746,860 shares of the medical equipment provider’s stock worth $3,562,000 after acquiring an additional 605,743 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Accuray by 46.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,116 shares of the medical equipment provider’s stock worth $1,064,000 after acquiring an additional 70,666 shares during the period. Finally, Cadence Capital Management LLC bought a new position in Accuray in the 1st quarter worth $2,307,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.
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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