Brokerages predict that Accuray Incorporated (NASDAQ:ARAY) will announce earnings of $0.03 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Accuray’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.03. Accuray posted earnings per share of $0.01 in the same quarter last year, which would indicate a positive year-over-year growth rate of 200%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, April 27th.

On average, analysts expect that Accuray will report full-year earnings of ($0.15) per share for the current year, with EPS estimates ranging from ($0.19) to ($0.10). For the next fiscal year, analysts forecast that the business will report earnings of $0.00 per share, with EPS estimates ranging from ($0.04) to $0.04. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Accuray.

Accuray (NASDAQ:ARAY) last announced its earnings results on Tuesday, January 31st. The medical equipment provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.02. The business had revenue of $87.50 million for the quarter, compared to analyst estimates of $93.74 million. Accuray had a negative net margin of 6.88% and a negative return on equity of 46.38%. The firm’s revenue was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share.

Several research analysts have recently issued reports on ARAY shares. Aegis restated a “buy” rating on shares of Accuray in a report on Tuesday, March 21st. BTIG Research restated a “hold” rating on shares of Accuray in a report on Sunday, February 5th. Finally, Zacks Investment Research raised shares of Accuray from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research note on Tuesday, April 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $7.89.

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A number of hedge funds have recently bought and sold shares of the stock. Peregrine Capital Management LLC purchased a new stake in Accuray during the third quarter worth about $15,148,000. Norges Bank bought a new position in shares of Accuray during the fourth quarter worth about $9,179,000. Russell Investments Group Ltd. bought a new position in shares of Accuray during the fourth quarter worth about $5,351,000. Sectoral Asset Management Inc increased its position in shares of Accuray by 124.6% in the third quarter. Sectoral Asset Management Inc now owns 1,854,625 shares of the medical equipment provider’s stock worth $11,814,000 after buying an additional 1,028,750 shares during the period. Finally, Heartland Advisors Inc. increased its position in shares of Accuray by 23.4% in the third quarter. Heartland Advisors Inc. now owns 3,672,510 shares of the medical equipment provider’s stock worth $23,394,000 after buying an additional 697,473 shares during the period. 91.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of Accuray (NASDAQ:ARAY) remained flat at $4.70 during mid-day trading on Monday. 278,730 shares of the stock traded hands. Accuray has a 12-month low of $4.45 and a 12-month high of $6.39. The company has a 50 day moving average price of $4.89 and a 200-day moving average price of $5.15. The firm’s market capitalization is $389.62 million.

Accuray Company Profile

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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