Accuray (NASDAQ:ARAY) Releases Earnings Results, Misses Expectations By $0.05 EPS

Accuray (NASDAQ:ARAY) posted its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05), Yahoo Finance reports. Accuray had a negative return on equity of 42.34% and a negative net margin of 4.99%. The business had revenue of $101.13 million for the quarter, compared to the consensus estimate of $114.60 million. During the same period in the previous year, the firm earned $0.01 EPS. Accuray updated its FY 2024 guidance to EPS.

Accuray Stock Up 5.2 %

Shares of Accuray stock opened at $1.62 on Friday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.84 and a current ratio of 1.58. The stock has a market capitalization of $160.66 million, a PE ratio of -7.36 and a beta of 1.48. Accuray has a 52-week low of $1.51 and a 52-week high of $4.30. The company has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $2.61.

Analyst Upgrades and Downgrades

ARAY has been the topic of several research reports. Roth Capital reissued a “buy” rating on shares of Accuray in a research note on Tuesday, February 13th. TheStreet lowered shares of Accuray from a “c-” rating to a “d+” rating in a research note on Wednesday, February 14th. Finally, Roth Mkm initiated coverage on shares of Accuray in a research note on Tuesday, February 13th. They set a “buy” rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Accuray presently has an average rating of “Moderate Buy” and an average target price of $8.25.

About Accuray

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.