Equities research analysts expect Accuray Incorporated (NASDAQ:ARAY) to report sales of $116.09 million for the current quarter, according to Zacks. Two analysts have issued estimates for Accuray’s earnings, with estimates ranging from $113.98 million to $118.20 million. Accuray reported sales of $113.79 million during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The company is expected to issue its next quarterly earnings report on Thursday, August 15th.
According to Zacks, analysts expect that Accuray will report full-year sales of $417.47 million for the current year, with estimates ranging from $415.34 million to $419.60 million. For the next fiscal year, analysts expect that the firm will post sales of $434.11 million, with estimates ranging from $432.81 million to $435.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Accuray.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Tuesday, April 23rd. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Accuray had a negative net margin of 3.85% and a negative return on equity of 25.96%. The business had revenue of $103.22 million for the quarter, compared to analysts’ expectations of $104.02 million.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Accuray from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Zacks Investment Research cut shares of Accuray from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, BTIG Research restated a “hold” rating on shares of Accuray in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.13.
Shares of NASDAQ ARAY traded down $0.03 during midday trading on Friday, reaching $4.18. 1,020,200 shares of the company traded hands, compared to its average volume of 865,244. Accuray has a 52 week low of $3.16 and a 52 week high of $5.40. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 2.97. The stock has a market cap of $361.19 million, a P/E ratio of -14.89 and a beta of 1.97.
In related news, CEO Joshua Levine sold 6,604 shares of Accuray stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $4.54, for a total transaction of $29,982.16. Following the transaction, the chief executive officer now directly owns 1,033,593 shares of the company’s stock, valued at $4,692,512.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. grew its holdings in Accuray by 46.7% during the fourth quarter. Macquarie Group Ltd. now owns 7,810 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 2,487 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Accuray by 10.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,754 shares of the medical equipment provider’s stock worth $213,000 after purchasing an additional 4,392 shares in the last quarter. SG Americas Securities LLC purchased a new position in Accuray in the 1st quarter worth about $49,000. MetLife Investment Advisors LLC increased its stake in Accuray by 34.8% in the 4th quarter. MetLife Investment Advisors LLC now owns 42,251 shares of the medical equipment provider’s stock worth $144,000 after purchasing an additional 10,915 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Accuray in the 4th quarter worth about $43,000. 80.62% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Story: What is a Futures Contract?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Accuray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray and related companies with MarketBeat.com's FREE daily email newsletter.