Accuray (NASDAQ:ARAY) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Accuray (NASDAQ:ARAY) released its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.13), FiscalAI reports. Accuray had a negative net margin of 0.35% and a negative return on equity of 4.92%. The company had revenue of $93.94 million during the quarter, compared to the consensus estimate of $91.34 million. Accuray updated its FY 2026 guidance to EPS.

Accuray Stock Performance

Accuray stock traded up $0.07 during midday trading on Wednesday, reaching $1.45. The stock had a trading volume of 739,147 shares, compared to its average volume of 788,846. Accuray has a 12 month low of $1.14 and a 12 month high of $2.95. The firm’s 50-day moving average price is $1.61 and its 200 day moving average price is $1.49. The firm has a market capitalization of $163.44 million, a PE ratio of -72.50 and a beta of 1.39. The company has a quick ratio of 0.92, a current ratio of 1.65 and a debt-to-equity ratio of 1.53.

Hedge Funds Weigh In On Accuray

Several hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its holdings in Accuray by 762.3% during the first quarter. AQR Capital Management LLC now owns 162,922 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 144,029 shares during the period. Jane Street Group LLC increased its holdings in shares of Accuray by 429.3% in the first quarter. Jane Street Group LLC now owns 91,944 shares of the medical equipment provider’s stock worth $165,000 after purchasing an additional 74,574 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Accuray by 7.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,421,724 shares of the medical equipment provider’s stock valued at $3,318,000 after acquiring an additional 174,703 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Accuray during the 2nd quarter valued at about $820,000. Finally, Sei Investments Co. boosted its holdings in shares of Accuray by 83.0% in the 2nd quarter. Sei Investments Co. now owns 93,843 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 42,557 shares during the period. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ARAY shares. Wall Street Zen raised shares of Accuray from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Accuray in a report on Wednesday, October 8th. Finally, BTIG Research lifted their price objective on shares of Accuray from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Accuray has an average rating of “Hold” and a consensus price target of $5.00.

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, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, 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.