Shares of Accuray Inc. (NASDAQ:ARAY) have received a consensus rating of “Hold” from the seven analysts that are currently covering the company. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $9.13.
A number of research firms recently commented on ARAY. Cowen and Company assumed coverage on Accuray in a research note on Tuesday, September 13th. They set an “outperform” rating and a $9.00 price objective on the stock. Morgan Stanley set a $8.00 price target on Accuray and gave the stock a “hold” rating in a research note on Thursday, August 18th.
Accuray (NASDAQ:ARAY) opened at 5.66 on Tuesday. The stock’s 50 day moving average price is $5.46 and its 200-day moving average price is $5.44. The firm’s market capitalization is $461.71 million. Accuray has a 12 month low of $4.75 and a 12 month high of $7.54.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Wednesday, August 17th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $95 million for the quarter, compared to analyst estimates of $98.97 million. Accuray had a negative net margin of 5.55% and a negative return on equity of 35.82%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. On average, analysts forecast that Accuray will post ($0.17) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in Accuray during the second quarter worth approximately $1,082,000. Schwab Charles Investment Management Inc. increased its position in Accuray by 17.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 561,317 shares of the company’s stock worth $2,914,000 after buying an additional 82,458 shares during the period. Elk Creek Partners LLC increased its position in Accuray by 6.0% in the second quarter. Elk Creek Partners LLC now owns 2,299,621 shares of the company’s stock worth $11,935,000 after buying an additional 129,363 shares during the period. Highbridge Capital Management LLC purchased a new position in Accuray during the second quarter worth approximately $551,000. Finally, A.R.T. Advisors LLC increased its position in Accuray by 134.0% in the second quarter. A.R.T. Advisors LLC now owns 122,908 shares of the company’s stock worth $637,000 after buying an additional 70,375 shares during the period. Institutional investors own 92.55% of the company’s stock.
Accuray Company Profile
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.
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