Accuray Incorporated (ARAY) Expected to Post Quarterly Sales of $95.10 Million

Equities analysts expect that Accuray Incorporated (NASDAQ:ARAY) will announce sales of $95.10 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Accuray’s earnings. The lowest sales estimate is $94.90 million and the highest is $95.30 million. Accuray reported sales of $90.95 million in the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The business is scheduled to issue its next earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Accuray will report full year sales of $421.40 million for the current fiscal year, with estimates ranging from $420.60 million to $422.20 million. For the next financial year, analysts expect that the firm will post sales of $440.50 million, with estimates ranging from $439.40 million to $441.60 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Accuray.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Thursday, August 16th. The medical equipment provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $113.79 million for the quarter, compared to analyst estimates of $108.45 million. Accuray had a negative net margin of 5.90% and a negative return on equity of 43.31%. During the same quarter in the previous year, the company earned ($0.04) EPS.

Several analysts have recently commented on ARAY shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 price target on shares of Accuray in a research report on Friday, August 17th. Zacks Investment Research raised shares of Accuray from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. BTIG Research reaffirmed a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Citigroup reduced their price target on shares of Accuray from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Friday, August 17th. Finally, BidaskClub lowered shares of Accuray from a “hold” rating to a “sell” rating in a research report on Saturday, June 23rd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Accuray presently has an average rating of “Hold” and an average price target of $6.68.

ARAY stock opened at $4.14 on Tuesday. The company has a market cap of $389.20 million, a PE ratio of -15.68 and a beta of 1.70. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.04 and a current ratio of 1.68. Accuray has a one year low of $3.20 and a one year high of $6.15.

In other Accuray news, CEO Joshua Levine sold 17,242 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $4.38, for a total value of $75,519.96. Following the sale, the chief executive officer now owns 1,387,162 shares of the company’s stock, valued at $6,075,769.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Shigeyuki Hamamatsu sold 8,762 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $4.48, for a total value of $39,253.76. Following the completion of the sale, the chief financial officer now directly owns 116,238 shares in the company, valued at approximately $520,746.24. The disclosure for this sale can be found here. In the last three months, insiders sold 27,790 shares of company stock worth $122,775. 3.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP raised its position in Accuray by 113.1% in the second quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 14,508 shares during the period. Global X Management Co LLC raised its position in Accuray by 6.3% in 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 during the period. Sei Investments Co. purchased a new stake in Accuray in the first quarter valued at approximately $107,000. KBC Group NV acquired a new position in shares of Accuray in the second quarter worth $112,000. Finally, Legal & General Group Plc grew its stake in shares of Accuray by 6,287.6% in the first quarter. Legal & General Group Plc now owns 1,361,381 shares of the medical equipment provider’s stock worth $6,807,000 after acquiring an additional 1,340,068 shares in the last quarter. 83.50% of the stock is currently owned by 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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Earnings History and Estimates for Accuray (NASDAQ:ARAY)

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