Accuray (NASDAQ:ARAY) Releases Quarterly Earnings Results

Accuray (NASDAQ:ARAY) posted its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05), Yahoo Finance reports. Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. The company had revenue of $101.13 million for the quarter, compared to analysts’ expectations of $114.60 million. During the same period in the prior year, the company posted $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Stock Down 29.0 %

Shares of NASDAQ ARAY traded down $0.63 during midday trading on Thursday, hitting $1.54. 5,292,999 shares of the company’s stock were exchanged, compared to its average volume of 506,936. The firm’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $2.63. The company has a market cap of $152.72 million, a PE ratio of -10.40 and a beta of 1.48. Accuray has a twelve month low of $1.51 and a twelve month high of $4.30. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Roth Capital reaffirmed a “buy” rating on shares of Accuray in a research report on Tuesday, February 13th. Roth Mkm began coverage on shares of Accuray in a research note on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price target for the company. Finally, TheStreet downgraded shares of Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.25.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, 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.