Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

A New Accuray Starts To Emerge

Small-cap radiation oncology company Accuray (NASDAQ:ARAY) has been struggling for a while now. Despite compelling technology that is superior to that of much larger rivals Varian (NYSE:VAR) and Elekta (OTCPK:EKTAY) in at least some significant respects, Accuray's operational missteps have sent the stock down almost 20% over the past year and almost 45% over the past five years, making it a significant underperformer.

With that underperformance making the shareholders restless, a change in management followed and Josh Levine took the helm. It's really too soon to expect a big impact from Levine's new direction and strategic priorities, and the early results have been mixed. Even so, a big sequential rebound in orders gives investors...

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