Equities analysts forecast that Accuray Incorporated (NASDAQ:ARAY) will report sales of $104.02 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Accuray’s earnings, with the lowest sales estimate coming in at $103.90 million and the highest estimate coming in at $104.13 million. Accuray posted sales of $99.83 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The firm is expected to issue its next earnings results after the market closes on Tuesday, April 23rd.

On average, analysts expect that Accuray will report full year sales of $420.41 million for the current year, with estimates ranging from $420.20 million to $420.62 million. For the next fiscal year, analysts anticipate that the business will report sales of $440.58 million, with estimates ranging from $437.16 million to $444.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Accuray.

Accuray (NASDAQ:ARAY) last released its earnings results on Tuesday, January 22nd. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Accuray had a negative net margin of 5.74% and a negative return on equity of 42.74%. The firm had revenue of $102.32 million during the quarter, compared to analyst estimates of $104.01 million. During the same period last year, the business earned ($0.06) earnings per share.

Several equities analysts have recently issued reports on ARAY shares. Zacks Investment Research upgraded shares of Accuray from a “hold” rating to a “buy” rating and set a $5.50 target price for the company 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.13.

In related news, CEO Joshua Levine sold 6,604 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $4.54, for a total value of $29,982.16. Following the completion of the transaction, the chief executive officer now directly owns 1,033,593 shares in the company, valued at approximately $4,692,512.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ARAY. Norges Bank purchased a new position in Accuray in the 4th quarter worth approximately $3,287,000. D. E. Shaw & Co. Inc. raised its holdings in Accuray by 58.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,015,496 shares of the medical equipment provider’s stock worth $6,873,000 after acquiring an additional 741,493 shares during the last quarter. Marshall Wace LLP purchased a new position in Accuray in the 3rd quarter worth approximately $2,444,000. Millennium Management LLC raised its holdings in Accuray by 59.7% in the 4th quarter. Millennium Management LLC now owns 1,257,268 shares of the medical equipment provider’s stock worth $4,287,000 after acquiring an additional 470,087 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Accuray by 8.6% in the 3rd quarter. Renaissance Technologies LLC now owns 5,312,623 shares of the medical equipment provider’s stock worth $23,907,000 after purchasing an additional 422,023 shares during the period. Institutional investors own 80.24% of the company’s stock.

Shares of ARAY stock traded down $0.13 during trading hours on Friday, hitting $4.27. 311,103 shares of the company’s stock traded hands, compared to its average volume of 884,949. Accuray has a 12-month low of $3.16 and a 12-month high of $5.40. The firm has a market capitalization of $386.67 million, a price-to-earnings ratio of -15.25 and a beta of 2.07. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.00 and a current ratio of 1.71.

Accuray Company Profile

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.

See Also: Conference Calls

Get a free copy of the Zacks research report on Accuray (ARAY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Accuray (NASDAQ:ARAY)

Receive News & Ratings for Accuray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray and related companies with MarketBeat.com's FREE daily email newsletter.