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Accuray's (ARAY) CyberKnife S7 to Enhance Radiation Treatment
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Accuray Incorporated (ARAY - Free Report) recently announced that the Providence Swedish Radiosurgery Center in Seattle, WA, is purchasing the latest generation CyberKnife S7 System. This purchase will be the hospital's second CyberKnife radiation delivery device purchase.
With the purchase of the latest CyberKnife, the center is expecting to enhance its cancer treatment capabilities. The robotic nature of the device will also enable precision and accuracy, making it a perfect option for treating neurologic problems. This robotic delivery device can make extremely precise radiation treatments possible in 1-5 sessions.
Price Performance
For the past six months, ARAY’s shares have plunged 35.4% compared with the industry’s decline of 3.1%. The S&P 500 increased 6.8% in the same time frame.
Image Source: Zacks Investment Research
More on the News
The CyberKnife S7 System is a non-invasive radiation therapy tool that is designed from the ground up to give physicians the operational efficiency and speed they require without compromising the accuracy and precision needed for stereotactic body radiation therapy and stereotactic radiosurgery. Additionally, the robotic architecture of the device will allow for precision and accuracy, which will make it a great choice for treating neurologic disorders as well.
With the help of artificial intelligence, the system can track and automatically adjust for tumor or patient movement during treatment, allowing for the delivery of radiation doses to the target in 15 minutes and with sub-millimeter precision.
Accuray’s CyberKnife System has strong potential as the company continues to leverage its potential in its precision Treatment Planning System and radiosurgery market.
Industry Prospects
Per a report by Predence Research, with a growth rate of 8%, the global radiation therapy market, which was valued at $7.3 billion in 2022, is expected to reach more than $14.9 billion by 2032.
With improved efficiency and efficacy, as well as higher market demands from a growing customer base, developed technologies in radiation therapy contribute to the growth of the radiation therapy market.
Notable Developments
In December 2023, Accuray announced the launch of its VitalHold package in Japan. This package supports surface-guided radiation therapy on the Radixact System, thus advancing breast cancer treatment.
In October 2023, the company announced the approval of the CNNC-Accuray joint venture Tomo C radiation therapy system from the Chinese National Medical Products Administration. The system will be used to treat cancer patients who require radiotherapy at least once to cure their disease, increase the chances of cure or relieve symptoms caused by the same.
Some better-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Acadia Healthcare (ACHC - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Acadia Healthcare, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%.
Acadia’s shares have gained 11.7% in the past six months against the industry’s decline of 5%.
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Accuray's (ARAY) CyberKnife S7 to Enhance Radiation Treatment
Accuray Incorporated (ARAY - Free Report) recently announced that the Providence Swedish Radiosurgery Center in Seattle, WA, is purchasing the latest generation CyberKnife S7 System. This purchase will be the hospital's second CyberKnife radiation delivery device purchase.
With the purchase of the latest CyberKnife, the center is expecting to enhance its cancer treatment capabilities. The robotic nature of the device will also enable precision and accuracy, making it a perfect option for treating neurologic problems. This robotic delivery device can make extremely precise radiation treatments possible in 1-5 sessions.
Price Performance
For the past six months, ARAY’s shares have plunged 35.4% compared with the industry’s decline of 3.1%. The S&P 500 increased 6.8% in the same time frame.
Image Source: Zacks Investment Research
More on the News
The CyberKnife S7 System is a non-invasive radiation therapy tool that is designed from the ground up to give physicians the operational efficiency and speed they require without compromising the accuracy and precision needed for stereotactic body radiation therapy and stereotactic radiosurgery. Additionally, the robotic architecture of the device will allow for precision and accuracy, which will make it a great choice for treating neurologic disorders as well.
With the help of artificial intelligence, the system can track and automatically adjust for tumor or patient movement during treatment, allowing for the delivery of radiation doses to the target in 15 minutes and with sub-millimeter precision.
Accuray’s CyberKnife System has strong potential as the company continues to leverage its potential in its precision Treatment Planning System and radiosurgery market.
Industry Prospects
Per a report by Predence Research, with a growth rate of 8%, the global radiation therapy market, which was valued at $7.3 billion in 2022, is expected to reach more than $14.9 billion by 2032.
With improved efficiency and efficacy, as well as higher market demands from a growing customer base, developed technologies in radiation therapy contribute to the growth of the radiation therapy market.
Notable Developments
In December 2023, Accuray announced the launch of its VitalHold package in Japan. This package supports surface-guided radiation therapy on the Radixact System, thus advancing breast cancer treatment.
In October 2023, the company announced the approval of the CNNC-Accuray joint venture Tomo C radiation therapy system from the Chinese National Medical Products Administration. The system will be used to treat cancer patients who require radiotherapy at least once to cure their disease, increase the chances of cure or relieve symptoms caused by the same.
Accuray Incorporated Price
Accuray Incorporated price | Accuray Incorporated Quote
Zacks Rank & Stocks to Consider
ARAY carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Acadia Healthcare (ACHC - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Acadia Healthcare, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%.
Acadia’s shares have gained 11.7% in the past six months against the industry’s decline of 5%.