Accuray (ARAY) Set to Announce Quarterly Earnings on Wednesday

Accuray (NASDAQ:ARAY – Get Rating) will issue its quarterly earnings data after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Accuray has set its FY 2023 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Accuray (NASDAQ:ARAY – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). The company had revenue of $96.49 million during the quarter, compared to analysts’ expectations of $105.11 million. Accuray had a negative net margin of 2.33% and a negative return on equity of 19.27%. On average, analysts expect Accuray to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Accuray Price Performance

ARAY stock opened at $2.48 on Wednesday. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.74 and a quick ratio of 0.95. The business has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $2.18. The firm has a market capitalization of $232.57 million, a PE ratio of -22.55 and a beta of 1.57. Accuray has a 1 year low of $1.70 and a 1 year high of $4.36.

Insider Activity at Accuray

In related news, CFO Ali Pervaiz sold 13,198 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $2.01, for a total value of $26,527.98. Following the sale, the chief financial officer now directly owns 174,325 shares in the company, valued at approximately $350,393.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Suzanne C. Winter sold 38,015 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $2.01, for a total value of $76,410.15. Following the sale, the president now directly owns 731,581 shares in the company, valued at approximately $1,470,477.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ali Pervaiz sold 13,198 shares of Accuray stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $2.01, for a total value of $26,527.98. Following the completion of the transaction, the chief financial officer now directly owns 174,325 shares of the company’s stock, valued at $350,393.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,333 shares of company stock worth $159,297. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Accuray

Institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC grew its position in Accuray by 131.9% in the 1st quarter. MetLife Investment Management LLC now owns 42,624 shares of the medical equipment provider’s stock valued at $141,000 after acquiring an additional 24,246 shares in the last quarter. Teton Advisors Inc. grew its position in Accuray by 14.3% in the 1st quarter. Teton Advisors Inc. now owns 40,000 shares of the medical equipment provider’s stock valued at $132,000 after acquiring an additional 5,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Accuray in the 1st quarter valued at about $104,000. Jane Street Group LLC grew its position in shares of Accuray by 290.5% during the second quarter. Jane Street Group LLC now owns 48,441 shares of the medical equipment provider’s stock worth $95,000 after buying an additional 36,036 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Accuray by 540.2% during the second quarter. Quantbot Technologies LP now owns 46,181 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 38,968 shares in the last quarter. 63.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Accuray in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

Accuray Company Profile

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Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the Americas, 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.