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Accuray Banks on Acquisition & Partnership Amid Competition
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On Mar 27, we issued an updated research report on Accuray Inc. (ARAY - Free Report) . While this Zacks Rank #3 (Hold) is focused on acquisitions and partnerships, stiff competition is a major concern.
The buyouts of TomoTherapy and Morphormics in the past have helped Accuray expand its product offerings and capabilities. Meanwhile, the collaboration with Christie InnoMed will help its products gain better visibility in Canada.
Accuray recently announced an agreement with the Neuro Spinal Hospital in Dubai, UAE. Per the agreement, Neuro Spinal Hospital will acquire the company’s proprietary medical systems consisting of a CyberKnife M6 System and a Radixact System.
The tie-ups with Premier and Amerinet are expected to help the company gain significant traction in hospitals and oncology centers.
On the flip side, Accuray is exposed to intense competition in the radiation oncology market, which is characterized by rapid technological changes. The company competes with the likes of Varian Medical, Elekta AB, Mitsubishi Heavy Industries, ViewRay and BrainLAB AG in this market.
Accuray’s top line is highly dependent on CyberKnife and TomoTherapy systems sales. However, both the systems require high capital expenditure, which is a deterrent for healthcare providers.
Price Performance Lacks Luster
The company has had an unimpressive run on the bourses of late. A glimpse at the recent price performance reveals that its shares have lost 11.7% over the past month, comparing unfavorably with the industry’s decline of 0.6%. We believe cutthroat competition and weak international sales have led to the downside.
Key Picks
Some better-ranked stocks in the broader medical sector are Bio-Rad Laboratories (BIO - Free Report) , athenahealth, Inc. and Edwards Lifesciences Corporation (EW - Free Report) .
athenahealth is a Zacks #1 Ranked player. The company has a long-term expected earnings growth rate of 21.5%.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.1%. The stock has a Zacks Rank of 2 (Buy).
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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Accuray Banks on Acquisition & Partnership Amid Competition
On Mar 27, we issued an updated research report on Accuray Inc. (ARAY - Free Report) . While this Zacks Rank #3 (Hold) is focused on acquisitions and partnerships, stiff competition is a major concern.
The buyouts of TomoTherapy and Morphormics in the past have helped Accuray expand its product offerings and capabilities. Meanwhile, the collaboration with Christie InnoMed will help its products gain better visibility in Canada.
Accuray recently announced an agreement with the Neuro Spinal Hospital in Dubai, UAE. Per the agreement, Neuro Spinal Hospital will acquire the company’s proprietary medical systems consisting of a CyberKnife M6 System and a Radixact System.
The tie-ups with Premier and Amerinet are expected to help the company gain significant traction in hospitals and oncology centers.
On the flip side, Accuray is exposed to intense competition in the radiation oncology market, which is characterized by rapid technological changes. The company competes with the likes of Varian Medical, Elekta AB, Mitsubishi Heavy Industries, ViewRay and BrainLAB AG in this market.
Accuray’s top line is highly dependent on CyberKnife and TomoTherapy systems sales. However, both the systems require high capital expenditure, which is a deterrent for healthcare providers.
Price Performance Lacks Luster
The company has had an unimpressive run on the bourses of late. A glimpse at the recent price performance reveals that its shares have lost 11.7% over the past month, comparing unfavorably with the industry’s decline of 0.6%. We believe cutthroat competition and weak international sales have led to the downside.
Key Picks
Some better-ranked stocks in the broader medical sector are Bio-Rad Laboratories (BIO - Free Report) , athenahealth, Inc. and Edwards Lifesciences Corporation (EW - Free Report) .
Bio-Rad Laboratories sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The company has a long-term expected earnings growth rate of 20%.
athenahealth is a Zacks #1 Ranked player. The company has a long-term expected earnings growth rate of 21.5%.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.1%. The stock has a Zacks Rank of 2 (Buy).
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>