Accuray (NASDAQ:ARAY) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Accuray (NASDAQ:ARAY) issued its earnings results on Wednesday. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.13), FiscalAI reports. The business had revenue of $93.94 million for the quarter, compared to the consensus estimate of $91.34 million. Accuray had a negative return on equity of 4.92% and a negative net margin of 0.35%. Accuray updated its FY 2026 guidance to EPS.

Accuray Stock Performance

Shares of NASDAQ:ARAY traded up $0.07 during midday trading on Wednesday, hitting $1.45. The stock had a trading volume of 739,147 shares, compared to its average volume of 788,846. The company has a current ratio of 1.65, a quick ratio of 0.92 and a debt-to-equity ratio of 1.53. Accuray has a 1 year low of $1.14 and a 1 year high of $2.95. The stock has a 50 day moving average price of $1.61 and a two-hundred day moving average price of $1.49. The company has a market capitalization of $163.44 million, a PE ratio of -72.50 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ARAY shares. BTIG Research increased their price target on Accuray from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Wall Street Zen raised Accuray from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Accuray in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARAY. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in Accuray in the 2nd quarter worth $2,055,000. Marshall Wace LLP bought a new stake in Accuray during the 2nd quarter valued at approximately $820,000. Geode Capital Management LLC grew its holdings in Accuray by 7.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,421,724 shares of the medical equipment provider’s stock valued at $3,318,000 after buying an additional 174,703 shares during the last quarter. AQR Capital Management LLC increased its position in Accuray by 762.3% in the 1st quarter. AQR Capital Management LLC now owns 162,922 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 144,029 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Accuray by 429.3% during the first quarter. Jane Street Group LLC now owns 91,944 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 74,574 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

About Accuray

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.