FY2024 EPS Estimates for Accuray Incorporated Reduced by Analyst (NASDAQ:ARAY)

Accuray Incorporated (NASDAQ:ARAY) – Equities researchers at Roth Capital decreased their FY2024 earnings estimates for Accuray in a research report issued to clients and investors on Thursday, May 2nd. Roth Capital analyst J. Wittes now expects that the medical equipment provider will post earnings per share of ($0.16) for the year, down from their previous estimate of ($0.09). Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Accuray’s current full-year earnings is ($0.16) per share. Roth Capital also issued estimates for Accuray’s FY2025 earnings at ($0.01) EPS.

ARAY has been the subject of a number of other research reports. TheStreet lowered Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. Roth Mkm initiated coverage on Accuray in a research note on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Accuray has a consensus rating of “Moderate Buy” and a consensus target price of $8.25.

Accuray Price Performance

Shares of NASDAQ:ARAY opened at $1.75 on Monday. Accuray has a 52 week low of $1.51 and a 52 week high of $4.30. The company has a current ratio of 1.58, a quick ratio of 0.84 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $173.55 million, a P/E ratio of -7.95 and a beta of 1.48. The firm’s 50 day moving average is $2.37 and its two-hundred day moving average is $2.59.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, May 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The company had revenue of $101.13 million for the quarter, compared to analyst estimates of $114.60 million. Accuray had a negative return on equity of 42.34% and a negative net margin of 4.99%. During the same quarter in the previous year, the company posted $0.01 earnings per share.

Institutional Investors Weigh In On Accuray

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Accuray during the 3rd quarter worth approximately $97,000. Commonwealth Equity Services LLC acquired a new position in shares of Accuray in the third quarter worth $35,000. Mackenzie Financial Corp purchased a new stake in shares of Accuray during the third quarter worth $58,000. Barclays PLC lifted its holdings in shares of Accuray by 25.8% during the 3rd quarter. Barclays PLC now owns 46,169 shares of the medical equipment provider’s stock valued at $126,000 after buying an additional 9,476 shares during the last quarter. Finally, Heartland Advisors Inc. grew its position in Accuray by 6.8% in the third quarter. Heartland Advisors Inc. now owns 2,847,800 shares of the medical equipment provider’s stock worth $7,746,000 after acquiring an additional 181,050 shares in the last quarter. 64.08% of the stock is owned by institutional investors.

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, 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.