Accuray Incorporated (ARAY) Price Target Lowered to $6.00 at Jefferies Group LLC
Accuray Incorporated (NASDAQ:ARAY) had its price target reduced by Jefferies Group LLC from $7.00 to $6.00 in a report issued on Wednesday. Jefferies Group LLC currently has a buy rating on the medical equipment provider’s stock. Jefferies Group also issued estimates for Accuray’s Q1 2018 earnings at ($0.04) EPS, Q2 2018 earnings at ($0.05) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.05) EPS and FY2020 earnings at $0.23 EPS.
A number of other research firms have also weighed in on ARAY. BidaskClub lowered shares of Accuray from a hold rating to a sell rating in a research report on Thursday, July 27th. Zacks Investment Research lowered shares of Accuray from a hold rating to a sell rating in a research report on Tuesday, May 16th. Finally, BTIG Research reaffirmed a hold rating on shares of Accuray in a research report on Sunday, April 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $6.38.
Accuray (NASDAQ ARAY) opened at 4.10 on Wednesday. Accuray has a 52-week low of $3.60 and a 52-week high of $6.39. The company has a 50-day moving average price of $4.33 and a 200 day moving average price of $4.61. The stock’s market cap is $340.30 million.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Tuesday, August 22nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $112.09 million during the quarter, compared to analyst estimates of $112 million. Accuray had a negative net margin of 8.61% and a negative return on equity of 61.49%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. On average, analysts expect that Accuray will post ($0.15) earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. RNC Capital Management LLC increased its stake in Accuray by 5.0% in the first quarter. RNC Capital Management LLC now owns 27,500 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 1,300 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Accuray during the first quarter valued at about $141,000. Goldman Sachs Group Inc. increased its stake in Accuray by 116.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock valued at $143,000 after buying an additional 16,223 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Accuray during the first quarter valued at about $154,000. Finally, Bank of Nova Scotia acquired a new stake in Accuray during the second quarter valued at about $168,000. Institutional investors own 82.74% of the company’s stock.
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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