By Chris Katje:
Accuray (ARAY), a California based medical equipment maker, appears to be undervalued at its current $4.04 share price. The company manufactures and markets its Cyberknife robotic device for hospitals and doctors around the world. The robotic device targets benign and malignant tumors of various types of cancer in the body by using image guidance to be more precise than other therapy methods.
The company depends on selling Cyberknife devices to its customers, doctors and hospitals, around the World and also the revenue it generates from repair and maintenance to existing installed Cyberknife systems.
In June of 2011, Accuray completed its acquisition of Tomotherapy, a medical device maker. The company paid over $250 million for Tomotherapy. The combined company will be able to integrate its technology and sales base to better sell the devices.
The company recently announced results from its fourth quarter and fiscal year end. The financial data included
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