Equities analysts forecast that Accuray Incorporated (NASDAQ:ARAY) will report sales of $116.09 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Accuray’s earnings, with the lowest sales estimate coming in at $113.98 million and the highest estimate coming in at $118.20 million. Accuray posted sales of $113.79 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The firm is expected to issue its next earnings results on Thursday, August 15th.
On average, analysts expect that Accuray will report full year sales of $417.47 million for the current year, with estimates ranging from $415.34 million to $419.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $434.11 million, with estimates ranging from $432.81 million to $435.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Accuray.
Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, April 23rd. The medical equipment provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Accuray had a negative net margin of 3.85% and a negative return on equity of 25.91%. The company had revenue of $103.22 million for the quarter, compared to the consensus estimate of $104.02 million.
A number of equities analysts have commented on ARAY shares. Zacks Investment Research downgraded shares of Accuray from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub raised shares of Accuray from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Accuray in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.13.
In other news, CEO Joshua Levine sold 6,604 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $4.54, for a total value of $29,982.16. Following the sale, the chief executive officer now directly owns 1,033,593 shares of the company’s stock, valued at approximately $4,692,512.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ARAY. Norges Bank purchased a new stake in shares of Accuray in the 4th quarter valued at approximately $3,287,000. D. E. Shaw & Co. Inc. increased its stake in Accuray by 58.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,015,496 shares of the medical equipment provider’s stock worth $6,873,000 after buying an additional 741,493 shares during the period. Acadian Asset Management LLC increased its stake in Accuray by 429.2% during the 1st quarter. Acadian Asset Management LLC now owns 746,860 shares of the medical equipment provider’s stock worth $3,562,000 after buying an additional 605,743 shares during the period. Cadence Capital Management LLC purchased a new stake in Accuray during the 1st quarter worth approximately $2,307,000. Finally, Millennium Management LLC increased its stake in Accuray by 59.7% during the 4th quarter. Millennium Management LLC now owns 1,257,268 shares of the medical equipment provider’s stock worth $4,287,000 after buying an additional 470,087 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.
ARAY stock traded down $0.01 during trading on Monday, reaching $3.71. 659,111 shares of the stock were exchanged, compared to its average volume of 495,385. 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 1 year low of $3.16 and a 1 year high of $5.40. The company has a market capitalization of $327.45 million, a PE ratio of -13.25 and a beta of 1.97.
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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