Accuray, Inc. (ARAY)
<b>Accuray Incorporated</b> (<a href="http://www.zacks.com/stock/quote/aray">ARAY</a>) designs, develops and sells the CyberKnife System, an image-guided robotic radiosurgery system used for the treatment of solid tumors. The company was badly affected by reimbursement uncertainties surrounding its products. <p> This was reflected in Accuray's top and bottom line performance in the first quarter of fiscal 2010. Accuray reported a net loss of $0.06 per share in the first quarter, compared to the Zacks Consensus Estimate of a net loss of $0.03 per share and unchanged from the year-ago figure. <p> Total revenues declined 9.5% year over year in the reported quarter. We downgrade the stock to Underperform with a target price of $6.
January 22, 2010 | Filed Under Stocks to Sell
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