Accuray Incorporated Company Profile (NASDAQ:ARAY)

Accuray Incorporated trades on the NASDAQ under the ticker symbol "ARAY."

Accuray Incorporated (NASDAQ:ARAY) announced its quarterly earnings data on Thursday, April, 27th. The company reported ($0.06) EPS for the quarter, missing the Zacks' consensus estimate of $0.01 by $0.07. The company had revenue of $97.31 million for the quarter, compared to analyst estimates of $110.23 million. Accuray Incorporated had a negative return on equity of 46.38% and a negative net margin of 6.88%. The business's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. View Accuray Incorporated's Earnings History.

6 brokers have issued 1-year target prices for Accuray Incorporated's shares. Their forecasts range from $6.00 to $9.00. On average, they anticipate Accuray Incorporated's stock price to reach $7.40 in the next year. View Analyst Ratings for Accuray Incorporated.

Here are some recent quotes from research analysts about Accuray Incorporated stock:

• 1. According to Zacks Investment Research, "Accuray reported wider-than-expected loss in the third quarter of fiscal 2017, primarily due to declining product revenues. Also, over the past one year, the company underperformed the broader industry with respect to price. Of the recent developments, orders for the newly unveiled Radixact System, solid revenue performance in Japan, and Japanese regulatory approval for Radixact are key positives in our view. We believe a broad product portfolio, growing customer base, stringent cost control and international expansion will drive growth. However, a drop in gross orders, unfavorable product mix, declining product and service revenues, sluggish macro economic conditions and pricing headwinds are major concerns. Notably, China and Europe saw sluggish revenues in the third quarter." (5/16/2017)
• 2. BTIG Research analysts commented, "Concerning; Guidance Lowered as Predicted; Neutral Accuray showed strong order growth in the quarter driven by a mix of Cyberknife, Radixact and a modest contribution from On-Rad across multiple geographies. While gross orders were strong, the revenue was significantly below expectations and, just as we predicted, revenue guidance for FY17 was lowered $30M to $380M to $390M from $410M to $420M previously (we modeled $395M heading into the print). ARAY is seeing a large proportion of orders OUS and into distributors with limited lines of sight on when those orders begin to convert to revenue which makes it challenging, not only to guide from mgmt.’s viewpoint, but also tough to model from our perspective. The company undertook a restructuring in the Q to improve these processes but we feel this will take multiple quarters to improve. Many companies within MedTech rely on OUS distributors but have limited predictability on sales OUS and we do not believe ARAY is immune to those challenges. All told, we maintain our Neutral rating and need to see revenue conversion consistently.   Soft GMs limit improvements in adjusted EBITDA growth. Mgmt has undertaken steps to improve COGS but volume swings in units continue to impact gross margins Q-to-Q. GMs came in 400bps below our expectations and will come in at ~37% for FY17. We expect GMs to remain in the low 40s in FY18 and beyond. Adj. EBTIDA guidance for FY17 was also lowered to $22M to $26M from $32M to $38M driven by the lowered revenue and soft GMs." (4/30/2017)
• 3. Aegis analysts commented, "The company has been successful in shifting gears to the smaller vault centers, re-positioning TomoTherapy as a work horse machine. Accuray has moved outside of the niche high-end large academic centers into the broader single- and dual-vault centers, with single- and dual-vault centers now accounting for 50% of new TomoTherapy orders (up from 0% in 2012).He added, "Radixact, the next-generation TomoTherapy platform, was approved for 510k in June (CE Mark in Aug) and brings ARAY up to par with Varian's TrueBeam and Elekta's Axesse machines. Radixact adds higher output dosing along with integrated treatment planning (Precision') and data management (iDMS') systems that will increase the ease and speed of systems, and should have its full launch in time for ARAYs first major replacement cycle. The reliability issues previously associated with TomoTherapy are now behind them, and Tomo is consistantly ranked #1 in overall system performance by ServiceTrak." (2/6/2017)

Accuray Incorporated saw a increase in short interest during the month of April. As of April 28th, there was short interest totalling 8,003,517 shares, an increase of 5.6% from the April 13th total of 7,581,417 shares. Based on an average trading volume of 727,267 shares, the days-to-cover ratio is currently 11.0 days.

Some companies that are related to Accuray Incorporated include Lantheus Holdings (LNTH), GenMark Diagnostics (GNMK), Cryolife (CRY), AxoGen (AXGN), Invacare (IVC), Exactech (EXAC), Syneron Medical (ELOS), Cutera (CUTR), RTI Surgical (RTIX), Corindus Vascular Robotics (CVRS), AcelRx Pharmaceuticals (ACRX), Neovasc Inc (US) (NVCN), IRIDEX (IRIX), Cogentix Medical (CGNT), T2 Biosystems (TTOO), Iradimed Corp (IRMD), Digirad (DRAD) and Edap Tms SA (EDAP).

Accuray Incorporated's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (0.00%), Primecap Management Co. CA (0.00%), Neuberger Berman Group LLC (0.00%), Renaissance Technologies LLC (0.00%), PARTNER FUND MANAGEMENT, L.P. (5.00%) and Heartland Advisors Inc. (4.28%). View Institutional Ownership Trends for Accuray Incorporated.

Accuray Incorporated's stock was sold by a variety of institutional investors in the last quarter, including Boston Partners, North Tide Capital LLC, Russell Investments Group Ltd., Parametric Portfolio Associates LLC, Schwab Charles Investment Management Inc., Cornerstone Capital Management Holdings LLC., Morgan Stanley and Wellington Management Group LLP. View Insider Buying and Selling for Accuray Incorporated.

Accuray Incorporated's stock was bought by a variety of institutional investors in the last quarter, including Neuberger Berman Group LLC, Vident Investment Advisory LLC, Bogle Investment Management L P DE, Vanguard Group Inc., Dimensional Fund Advisors LP, Menta Capital LLC, UBS Group AG and First Trust Advisors LP. View Insider Buying and Selling for Accuray Incorporated.

Shares of Accuray Incorporated can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Accuray Incorporated stock can currently be purchased for approximately $4.15.