Accuray Incorporated (ARAY) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Accuray Incorporated (NASDAQ:ARAY) posted its quarterly earnings results on Tuesday. The medical equipment provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02, Yahoo Finance reports. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $88.26 million. Accuray had a negative return on equity of 61.62% and a negative net margin of 7.71%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS.
Accuray (NASDAQ ARAY) opened at 3.95 on Wednesday. Accuray has a 52-week low of $3.60 and a 52-week high of $6.00. The company’s market capitalization is $328.56 million. The company has a 50-day moving average price of $4.25 and a 200 day moving average price of $4.31.
In other Accuray news, COO Kelly Londy sold 99,136 shares of Accuray stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $4.24, for a total value of $420,336.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.90% of the stock is currently owned by insiders.
ARAY has been the topic of several analyst reports. Zacks Investment Research raised Accuray from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research report on Tuesday. BTIG Research reaffirmed a “hold” rating on shares of Accuray in a research report on Thursday, August 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Accuray in a research report on Thursday, August 24th. Jefferies Group LLC lowered their price objective on Accuray from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Finally, BidaskClub cut Accuray from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.75.
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Accuray Company Profile
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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