Equities Analysts Set Expectations for Accuray Incorporated’s FY2022 Earnings (ARAY)

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Accuray Incorporated (NASDAQ:ARAY) – Research analysts at Jefferies Financial Group issued their FY2022 earnings per share (EPS) estimates for shares of Accuray in a research report issued on Tuesday, October 30th. Jefferies Financial Group analyst A. Petrone forecasts that the medical equipment provider will post earnings of $0.50 per share for the year. Jefferies Financial Group currently has a “Buy” rating and a $6.00 target price on the stock.

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

Several other brokerages also recently issued reports on ARAY. Citigroup raised shares of Accuray from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $3.50 to $3.90 in a research report on Thursday. BTIG Research reaffirmed a “hold” rating on shares of Accuray in a report on Wednesday, August 22nd. Finally, BidaskClub downgraded shares of Accuray from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.36.

Accuray stock traded up $0.12 during midday trading on Thursday, hitting $4.61. 286,995 shares of the company’s stock were exchanged, compared to its average volume of 959,743. Accuray has a 12-month low of $3.20 and a 12-month 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. The company has a market capitalization of $297.55 million, a P/E ratio of -16.45 and a beta of 1.70.

Large investors have recently modified their holdings of the company. Sei Investments Co. purchased a new stake in shares of Accuray in the first quarter valued at about $107,000. KBC Group NV purchased a new stake in shares of Accuray in the second quarter valued at about $112,000. First Trust Advisors LP boosted its holdings in shares of Accuray by 113.1% in the second quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after acquiring an additional 14,508 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Accuray in the second quarter valued at about $162,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Accuray by 37.5% in the second quarter. California Public Employees Retirement System now owns 75,522 shares of the medical equipment provider’s stock valued at $310,000 after acquiring an additional 20,600 shares in the last quarter. 83.47% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Shigeyuki Hamamatsu sold 8,762 shares of Accuray stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $4.48, for a total value of $39,253.76. Following the sale, the chief financial officer now owns 116,238 shares of the company’s stock, valued at $520,746.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joshua Levine sold 17,242 shares of Accuray stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $4.38, for a total transaction of $75,519.96. Following the completion of the sale, the chief executive officer now directly owns 1,387,162 shares in the company, valued at approximately $6,075,769.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,790 shares of company stock worth $122,775. Insiders own 3.40% of the company’s stock.

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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