Accuray (ARAY) Announces Earnings Results
Accuray (NASDAQ:ARAY) posted its quarterly earnings data on Tuesday. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03, Fidelity Earnings reports. Accuray had a negative net margin of 3.85% and a negative return on equity of 25.96%. The business had revenue of $103.22 million for the quarter, compared to analysts’ expectations of $104.02 million. Accuray updated its FY 2019 guidance to EPS.
NASDAQ ARAY opened at $4.24 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 2.97. Accuray has a 12 month low of $3.16 and a 12 month high of $5.40.
In other news, CEO Joshua Levine sold 6,604 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $4.54, for a total value of $29,982.16. Following the transaction, the chief executive officer now directly owns 1,033,593 shares in the company, valued at $4,692,512.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.
A number of research analysts have recently commented on ARAY shares. Zacks Investment Research upgraded shares of Accuray from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Thursday, February 7th. BidaskClub upgraded shares of Accuray from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.13.
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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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