Accuray (NASDAQ:ARAY) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Accuray reported quarterly earnings of $0.01 per share, missing analysts' expectations of $0.03 by $0.02.
• The company's revenue for the quarter was $127.54 million, exceeding estimates of $123.78 million.
• Accuray's stock experienced a small decline, trading at $1.46, while undergoing significant trading volume of 1,829,531 shares.

Accuray (NASDAQ:ARAY - Get Free Report) released its earnings results on Wednesday. The medical equipment provider reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02), reports. Accuray had a negative net margin of 0.35% and a negative return on equity of 5.79%. The firm had revenue of $127.54 million for the quarter, compared to analysts' expectations of $123.78 million. Accuray updated its FY 2026 guidance to EPS.

Accuray Stock Down 5.2%

ARAY traded down $0.0850 on Tuesday, hitting $1.5350. The company had a trading volume of 809,820 shares, compared to its average volume of 772,905. The stock has a fifty day moving average price of $1.35 and a 200-day moving average price of $1.62. Accuray has a 12-month low of $1.1401 and a 12-month high of $2.95. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.92 and a current ratio of 1.64. The stock has a market capitalization of $172.90 million, a price-to-earnings ratio of -76.75 and a beta of 1.24.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Accuray by 604.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 30,182 shares during the period. Sei Investments Co. raised its position in Accuray by 83.0% during the second quarter. Sei Investments Co. now owns 93,843 shares of the medical equipment provider's stock valued at $129,000 after acquiring an additional 42,557 shares in the last quarter. Jane Street Group LLC grew its holdings in Accuray by 429.3% in the first quarter. Jane Street Group LLC now owns 91,944 shares of the medical equipment provider's stock valued at $165,000 after purchasing an additional 74,574 shares during the period. AQR Capital Management LLC grew its holdings in Accuray by 762.3% in the first quarter. AQR Capital Management LLC now owns 162,922 shares of the medical equipment provider's stock valued at $292,000 after purchasing an additional 144,029 shares during the period. Finally, Globeflex Capital L P lifted its holdings in Accuray by 35.1% during the second quarter. Globeflex Capital L P now owns 248,265 shares of the medical equipment provider's stock valued at $340,000 after purchasing an additional 64,494 shares in the last quarter. Institutional investors own 64.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BTIG Research upped their target price on shares of Accuray from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Wall Street Zen cut shares of Accuray from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $5.00.

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, 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.