$111.45 Million in Sales Expected for Accuray Incorporated (NASDAQ:ARAY) This Quarter
Brokerages predict that Accuray Incorporated (NASDAQ:ARAY) will announce sales of $111.45 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Accuray’s earnings, with estimates ranging from $110.70 million to $112.20 million. Accuray posted sales of $94.97 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.4%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, August 22nd.
According to Zacks, analysts expect that Accuray will report full-year sales of $111.45 million for the current financial year, with estimates ranging from $382.00 million to $383.52 million. For the next year, analysts anticipate that the business will post sales of $401.28 million per share, with estimates ranging from $399.90 million to $402.65 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Accuray.
A number of brokerages have recently commented on ARAY. Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price target on shares of Accuray in a report on Wednesday. BidaskClub lowered shares of Accuray from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Accuray from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, BTIG Research reissued a “hold” rating on shares of Accuray in a report on Sunday, April 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.04.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Accuray by 4.4% in the second quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock valued at $31,962,000 after buying an additional 281,789 shares in the last quarter. Neuberger Berman Group LLC raised its position in Accuray by 26.7% in the first quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock valued at $23,821,000 after buying an additional 1,057,654 shares in the last quarter. Renaissance Technologies LLC raised its position in Accuray by 2.0% in the second quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock valued at $20,857,000 after buying an additional 85,400 shares in the last quarter. Lapides Asset Management LLC raised its position in Accuray by 0.3% in the second quarter. Lapides Asset Management LLC now owns 2,221,300 shares of the medical equipment provider’s stock valued at $10,551,000 after buying an additional 7,500 shares in the last quarter. Finally, Norges Bank acquired a new position in Accuray during the fourth quarter valued at approximately $9,179,000. 84.64% of the stock is currently owned by institutional investors.
Shares of Accuray (ARAY) opened at 4.00 on Friday. The company’s market cap is $332.00 million. Accuray has a 1-year low of $3.85 and a 1-year high of $6.39. The firm’s 50 day moving average is $4.47 and its 200-day moving average is $4.69.
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Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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