Accuray Incorporated (NASDAQ:ARAY) had its price target reduced by Jefferies Group LLC from $7.00 to $6.00 in a report released on Wednesday morning. Jefferies Group LLC currently has a buy rating on the medical equipment provider’s stock. Jefferies Group also issued estimates for Accuray’s Q1 2018 earnings at ($0.04) EPS, Q2 2018 earnings at ($0.05) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.19) EPS, FY2019 earnings at ($0.08) EPS and FY2020 earnings at $0.23 EPS.

ARAY has been the subject of several other research reports. Zacks Investment Research lowered shares of Accuray from a buy rating to a hold rating in a research report on Tuesday, May 2nd. BTIG Research reaffirmed a hold rating on shares of Accuray in a research report on Sunday, April 30th. Finally, BidaskClub lowered shares of Accuray from a hold rating to a sell rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Accuray presently has a consensus rating of Hold and a consensus target price of $6.38.

Accuray (ARAY) opened at 4.10 on Wednesday. The stock has a 50 day moving average of $4.31 and a 200-day moving average of $4.59. The company’s market cap is $341.03 million. Accuray has a 12 month low of $3.60 and a 12 month high of $6.39.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Accuray had a negative net margin of 7.71% and a negative return on equity of 61.00%. The business had revenue of $112.09 million for the quarter, compared to analysts’ expectations of $112 million. During the same period in the previous year, the company earned ($0.09) EPS. Accuray’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts expect that Accuray will post ($0.19) EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. RNC Capital Management LLC increased its position in shares of Accuray by 5.0% in the first quarter. RNC Capital Management LLC now owns 27,500 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 1,300 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Accuray during the first quarter worth about $141,000. Goldman Sachs Group Inc. increased its position in shares of Accuray by 116.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock worth $143,000 after buying an additional 16,223 shares during the period. Advisory Services Network LLC bought a new position in shares of Accuray during the first quarter worth about $154,000. Finally, Bank of Nova Scotia bought a new position in shares of Accuray during the second quarter worth about $168,000. Institutional investors own 82.74% of the company’s stock.

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.

Analyst Recommendations for Accuray (NASDAQ:ARAY)

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