Accuray Incorporated (ARAY) to Post Q2 2019 Earnings of ($0.06) Per Share, Jefferies Financial Group Forecasts

Accuray Incorporated (NASDAQ:ARAY) – Stock analysts at Jefferies Financial Group cut their Q2 2019 EPS estimates for shares of Accuray in a research note issued to investors on Tuesday, October 30th. Jefferies Financial Group analyst A. Petrone now forecasts that the medical equipment provider will post earnings per share of ($0.06) for the quarter, down from their prior forecast of ($0.04). Jefferies Financial Group currently has a “Buy” rating and a $6.00 target price on the stock. Jefferies Financial Group also issued estimates for Accuray’s Q4 2019 earnings at $0.06 EPS, FY2019 earnings at ($0.16) EPS, FY2020 earnings at $0.16 EPS and FY2021 earnings at $0.32 EPS.

ARAY has been the topic of a number of other research reports. BidaskClub lowered shares of Accuray from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Citigroup decreased their price target on shares of Accuray from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Friday, August 17th. Finally, BTIG Research reissued a “hold” rating on shares of Accuray in a report on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Accuray presently has an average rating of “Hold” and an average target price of $6.36.

Shares of NASDAQ:ARAY opened at $4.75 on Friday. The firm has a market capitalization of $410.86 million, a PE ratio of -16.96 and a beta of 1.60. Accuray has a one year low of $3.20 and a one year high of $6.15. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.04 and a current ratio of 1.68.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The company had revenue of $95.83 million during the quarter, compared to the consensus estimate of $95.10 million. Accuray had a negative return on equity of 42.15% and a negative net margin of 5.79%. During the same period in the previous year, the company earned ($0.11) EPS.

In other news, CFO Shigeyuki Hamamatsu sold 8,762 shares of the company’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $4.48, for a total value of $39,253.76. Following the completion of the sale, the chief financial officer now owns 116,238 shares of the company’s stock, valued at approximately $520,746.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joshua Levine sold 18,742 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $4.69, for a total transaction of $87,899.98. Following the completion of the sale, the chief executive officer now directly owns 1,355,551 shares of the company’s stock, valued at approximately $6,357,534.19. The disclosure for this sale can be found here. Insiders sold a total of 48,378 shares of company stock worth $218,502 in the last three months. Insiders own 3.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. purchased a new stake in shares of Accuray in the 1st quarter valued at $107,000. First Trust Advisors LP boosted its stake in shares of Accuray by 113.1% in the 2nd quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 14,508 shares in the last quarter. KBC Group NV purchased a new stake in shares of Accuray in the 2nd quarter valued at $112,000. Jane Street Group LLC purchased a new stake in shares of Accuray in the 2nd quarter valued at $162,000. Finally, California Public Employees Retirement System boosted its stake in shares of Accuray by 37.5% in the 2nd quarter. California Public Employees Retirement System now owns 75,522 shares of the medical equipment provider’s stock valued at $310,000 after purchasing an additional 20,600 shares in the last quarter. 83.47% of the stock is owned by institutional investors.

About Accuray

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.

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Earnings History and Estimates for Accuray (NASDAQ:ARAY)

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