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Accuray Incorporated (NASDAQ:ARAY) is scheduled to report its Q1 2013 results on September 6, 2012, after the bell. The street expects EPS and revenue of ($0.12) loss and $106.92M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from ARAY and the news from its closest competitors.

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Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last three quarters. In the last quarter it reported ($0.13) loss per share, beating analyst estimates of ($0.15) loss.

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The consensus EPS estimate is ($0.12) loss based on 7 analysts' estimates, down from ($0.10) loss a year ago. Revenue estimates are $106.92M, up from $78.10M a year ago. The median target price by analysts for the stock is $9.75.

Average recommendation: Overweight

Source: Marketwatch

Latest News

  • On July 16, 2012, Accuray Incorporated announced that they have signed a definitive agreement to acquire Morphormics, Inc., a privately held company founded by University of North Carolina at Chapel Hill faculty members based on their research in autosegmentation of medical images.
  • On June 26, 2012, Accuray Incorporated announced the signing of a multi-year master research and collaboration agreement with Erasmus Medical Center (NYSE:MC), a research center in Rotterdam, the Netherlands and the largest of the eight university medical centers in the country.
  • On May 22, 2012, Accuray Incorporated announced the signing of a multi-year master research and collaboration agreement with the German Cancer Research Center a luminary research institution located in Heidelberg, Germany.
  • On March 30, 2012, Accuray Incorporated announced the signing of a multi-year master research and collaboration agreement with the University of Heidelberg, a luminary research institution located in Heidelberg, Germany that contributes to the city's top international position in therapy, research and science.

Competitors

Dendreon (NASDAQ:DNDN), Exelixis (NASDAQ:EXEL), IsoRay (NYSEMKT:ISR), and Varian Medical Systems (NYSE:VAR) are peers for comparison for Accuray and the chart below compares the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

ARAY Chart

ARAY data by YCharts

Competitors' Latest Developments

  • On August 29, 2012, Varian Medical Systems Inc has filed a lawsuit against Elekta AB in a U.S. state court in Texas. Varian claims that Elekta employees improperly gained access to Varian trade secret information.
  • On August 23, 2012, Varian Medical Systems Inc announced that in South Korea it has established an in-Country subsidiary. Varian Medical Systems Korea, based in Seoul, will support the launch and rollout of the Company's TrueBeam treatment system while, over time, providing a local base for all the Company's business units.
  • On August 13, 2012, Varian Medical Systems Inc announced that Timothy E. Guertin has declared his intention to retire as the Company's President and CEO at the end of the Company's current fiscal year on September 28, 2012.
  • On August 9, 2012, Exelixis, Inc. announced the pricing of its concurrent underwritten public offering of 30 million shares of newly issued common stock at a price to the public of $4.25 per share and $250 million aggregate principal amount of its 4.25% convertible senior subordinated notes due 2019.
  • On August 6, 2012, Exelixis, Inc. announced that it plans to offer, subject to market and other conditions, 20,000,000 shares of its common stock and $225 million aggregate principal amount of convertible senior subordinated notes due 2019 in concurrent underwritten public offerings.
  • On July 30, 2012, Reuters reported that Dendreon Corp said it would close one of its three manufacturing plants and cut more than 600 full-time and contractor jobs over the next 12 months, with the aim of reducing annual costs by about $150 million a year.
  • On July 30, 2012, Reuters reported that U.S. health regulators granted a priority review for Exelixis, Inc. experimental drug to treat a rare form of thyroid cancer. Exelixis said the U.S. Food and Drug Administration set a review date of November 29 for the drug, cabozantinib, designed to treat medullary thyroid cancer.
  • On July 26, 2012, Exelixis, Inc. announced the initiation of two investigator-sponsored trials (ISTs) of cabozantinib, which simultaneously targets MET, VEGFR2 and RET. Naiyer Rizvi, M.D., a lung cancer specialist at Memorial Sloan Kettering Cancer Center (MSKCC), is conducting a phase II clinical trial of cabozantinib in non-small cell lung cancer (NSCLC) patients who have tested positive for gene fusions that activate RET. Anuj Mahindra, MBBS, member of the hematology staff at Massachusetts General Hospital (NYSEMKT:MGH), is conducting a pilot phase I clinical trial of cabozantinib in patients with relapsed or refractory multiple myeloma, a disease for which there is evidence of MET's role in pathogenesis.
  • On July 25, 2012, Varian Medical Systems Inc. announced that with tremendous movements in currency exchange rates, particularly the substantial weakening of the Euro, it is adjusting outlook for fiscal 2012.
  • On June 3, 2012, Exelixis, Inc. announced positive updated interim data from a cohort of heavily pretreated patients with metastatic refractory renal cell carcinoma (RCC) participating in an ongoing phase 1b trial of cabozantinib.
  • On June 3, 2012, Exelixis, Inc. reported positive updated interim data from the cohort of hepatocellular carcinoma (NYSE:HCC) patients participating in the ongoing phase 2 randomized discontinuation trial (RDT) of cabozantinib.
  • On April 25, 2012, Varian Medical Systems Inc. and Siemens Healthcare announced the signing of a strategic global partnership to provide advanced diagnostic and therapeutic solutions and services for treating cancer with image-guided radiotherapy and radiosurgery.
  • On April 25, 2012, Varian Medical Systems Inc. announced that for the third quarter of 2012, it expects revenue to be 9%-10% over the third quarter of 2011 and earnings per share (NYSEARCA:EPS) to be in the range of $0.91-$0.95. For fiscal 2012, it expects revenues to increase over the fiscal 2011 total by about 10% and earnings per diluted share to be in the range of $3.76-$3.84. The Company reported revenue of $649.4 million in the third quarter of 2011 and $2.60 billion for fiscal 2011.
  • On April 13, 2012, Obesity, Fitness & Wellness Week reported that Varian Medical Systems Inc is opening a local office in Hungary with the aim of helping the country's radiotherapy departments to offer advanced treatments for a growing cancer population.
  • On March 5, 2012, Varian Medical Systems Inc. announced that it has reached an agreement to acquire InfiMed, Inc., a privately-owned, supplier of workstations including hardware and software for processing diagnostic X-ray images.

Technical Overview


The stock has a market capitalization of $437.07M and is currently trading at $6.08 with a 52 week range of $3.50 - $8.07. The stock's year-to-date performance has been 44.92%. It is currently trading above 200 SMA, but below 20 and 50 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Accuray Incorporated Reports On September 6