Accuray Incorporated (ARAY) to Post FY2018 Earnings of ($0.19) Per Share, Jefferies Group Forecasts
Accuray Incorporated (NASDAQ:ARAY) – Equities researchers at Jefferies Group lowered their FY2018 earnings per share estimates for Accuray in a research report issued on Tuesday. Jefferies Group analyst A. Petrone now forecasts that the medical equipment provider will earn ($0.19) per share for the year, down from their prior estimate of ($0.07). Jefferies Group has a “Buy” rating and a $6.00 price target on the stock. Jefferies Group also issued estimates for Accuray’s FY2019 earnings at ($0.08) EPS.
Several other equities analysts have also recently weighed in on ARAY. BTIG Research reissued a “hold” rating on shares of Accuray in a research note on Sunday, April 30th. Zacks Investment Research cut shares of Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub cut shares of Accuray from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $5.00 target price on shares of Accuray in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.38.
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Accuray (NASDAQ:ARAY) opened at 4.10 on Friday. The stock’s market cap is $341.03 million. Accuray has a 52 week low of $3.60 and a 52 week high of $6.39. The stock has a 50 day moving average of $4.31 and a 200-day moving average of $4.59.
Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.05. Accuray had a negative net margin of 7.71% and a negative return on equity of 61.00%. The business had revenue of $112.09 million during the quarter, compared to analysts’ expectations of $112 million. During the same period in the prior year, the business posted ($0.09) EPS. The business’s revenue was up 18.0% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its position in Accuray by 26.7% in the first quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock worth $23,821,000 after buying an additional 1,057,654 shares during the period. Vident Investment Advisory LLC increased its stake in Accuray by 212.7% in the first quarter. Vident Investment Advisory LLC now owns 1,553,111 shares of the medical equipment provider’s stock worth $7,377,000 after buying an additional 1,056,395 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in Accuray during the first quarter worth $1,952,000. Vanguard Group Inc. increased its stake in Accuray by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,447,130 shares of the medical equipment provider’s stock worth $30,623,000 after buying an additional 286,011 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Accuray by 31.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,124,803 shares of the medical equipment provider’s stock worth $5,343,000 after buying an additional 266,790 shares in the last quarter. 82.74% of the stock is owned by hedge funds and other institutional investors.
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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