Accuray (Nasdaq:ARAY) shares rose this morning on second-quarter results that topped the consensus forecast.
ARAY shares ticked up 12.1% at $2.75 apiece. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 14.4%.
The Sunnyvale, California–based radiation oncology company posted losses of $1.9 million. That amounts to losses of 2¢ per share on sales of $114.8 million for the three months ended Dec. 31, 2022.
Accuray reported a large bottom-line slide into the red from profits of $179,000 this time last year. Its sales dipped 1.3% year over year. The company’s earnings came in 1¢ ahead of expectations on Wall Street, while revenues topped estimates by 33.3%.
“We have delivered another strong quarter of performance in Q2 showcasing the growing customer demand for our precision radiotherapy solutions and the excellent operational execution by the Accuray team amidst chal…