Brokerages Set Accuray Incorporated (ARAY) Price Target at $6.50
Shares of Accuray Incorporated (NASDAQ:ARAY) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.50.
A number of equities research analysts have weighed in on ARAY shares. BidaskClub lowered Accuray from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and set a $7.00 price target on shares of Accuray in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Accuray from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada reiterated a “hold” rating and set a $5.00 price target on shares of Accuray in a research report on Thursday, August 24th. Finally, BTIG Research reiterated a “hold” rating on shares of Accuray in a research report on Thursday, August 24th.
Accuray (NASDAQ:ARAY) remained flat at $4.15 during trading on Tuesday. The stock had a trading volume of 327,214 shares. Accuray has a 12-month low of $3.60 and a 12-month high of $6.39. The stock’s 50-day moving average is $4.18 and its 200-day moving average is $4.50. The company’s market cap is $345.19 million.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, August 22nd. The medical equipment provider reported ($0.06) earnings per share 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 61.62%. 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 firm posted ($0.09) EPS. Accuray’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts predict that Accuray will post ($0.19) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Accuray by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock valued at $31,962,000 after acquiring an additional 281,789 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Accuray by 26.7% during the 1st quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock valued at $23,821,000 after acquiring an additional 1,057,654 shares during the period. Renaissance Technologies LLC lifted its position in shares of Accuray by 2.0% during the 2nd quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock valued at $20,857,000 after acquiring an additional 85,400 shares during the period. Lapides Asset Management LLC lifted its position in shares of Accuray by 0.3% during the 2nd quarter. Lapides Asset Management LLC now owns 2,221,300 shares of the medical equipment provider’s stock valued at $10,551,000 after acquiring an additional 7,500 shares during the period. Finally, State Street Corp lifted its position in shares of Accuray by 4.2% during the 2nd quarter. State Street Corp now owns 1,700,442 shares of the medical equipment provider’s stock valued at $8,079,000 after acquiring an additional 67,983 shares during the period. Institutional investors own 76.67% of the company’s stock.
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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