Today's Research Reports on Stocks to Watch: Accuray and Align Technology
NEW YORK, NY / ACCESSWIRE / May 2, 2017 / Accuray saw a disappointing third quarter due to lower sales, while Align Technology reported first quarter earnings that smashed estimates as sales for its Invisalign product soared. In the first quarter, Invisalign case shipments came in at 208,060, an increase of 27.1% from a year ago.
RDI Initiates Coverage on:
Accuray Incorporated
https://ub.rdinvesting.com/news/?ticker=ARAY
Align Technology, Inc.
https://ub.rdinvesting.com/news/?ticker=ALGN
Accuray shares closed down 3.85% yesterday on trading volume slightly higher than average. The Street was disappointed by the company's third quarter earnings report. A loss of 6 cents per share in Q3 fell short of the earnings of a penny that the Zack Consensus was looking for. Revenue fell 7.6% year-over-year to $97 million and came very short of the $117 million that analyst had expected. Looking ahead, the radiation therapy and radiosurgery treatment solutions company is forecasting full-year revenues of $380 million to $390 million. The company had previously expected guidance of $410 million to $420 million. The company designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. CyberKnife System is Accuray's robotic stereotactic radiosurgery and stereotactic body radiation therapy system that is used for the treatment of various types of cancer and tumors in the body.
Access RDI's Accuray Research Report at:
https://ub.rdinvesting.com/news/?ticker=ARAY
Align Technology shares may have opened at $135.39 but they started heading south to an intra-day low of 133.03 in Monday trading. There could be some traders looking to take profits as the Street saw shares surge last week when it reported first quarter earnings for 2017. This is the same company that smashed expectations for each quarter in 2016. It did the same for Q1 when it reported $310.3 million in sales thanks to Invisalign, the company's teeth straightening system. Net income came in at 85 cents, a lot higher than the 67 cents that ten analysts surveyed by Zacks were looking for. Revenue at $310.3 million was also a lot higher than the $297 million that seven analysts surveyed by Zacks had called for. Shares of Align have increased more than 25% since the start of 2017. At $120.09 last Thursday, shares were up 61% in the last 12 months.
Access RDI's Align Technology Research Report at:
https://ub.rdinvesting.com/news/?ticker=ALGN
Our Actionable Research on Accuray Incorporated (NASDAQ: ARAY) and Align Technology, Inc. (NASDAQ: ALGN) can be downloaded free of charge at Research Driven Investing.
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