BidaskClub downgraded shares of Accuray (NASDAQ:ARAY) from a buy rating to a hold rating in a report issued on Tuesday morning.
Several other analysts also recently weighed in on ARAY. Jefferies Group decreased their price target on shares of Accuray from $7.00 to $6.00 and set a buy rating for the company in a research note on Wednesday, August 23rd. Royal Bank of Canada reaffirmed a hold rating and set a $5.00 price target on shares of Accuray in a research note on Thursday, August 24th. BTIG Research reaffirmed a hold rating on shares of Accuray in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Accuray from a sell rating to a hold rating in a research note on Tuesday, September 19th. Finally, Cowen reaffirmed a buy rating and set a $9.00 price target on shares of Accuray in a research note on Friday, October 27th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $6.82.
Shares of Accuray (NASDAQ ARAY) opened at $5.05 on Tuesday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.92 and a current ratio of 1.48. Accuray has a 12 month low of $3.60 and a 12 month high of $6.00.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Accuray had a negative net margin of 7.49% and a negative return on equity of 55.18%. The firm had revenue of $91.00 million during the quarter, compared to the consensus estimate of $88.26 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. equities analysts expect that Accuray will post -0.18 earnings per share for the current fiscal year.
In related news, CEO Joshua Levine sold 17,093 shares of Accuray stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $4.86, for a total transaction of $83,071.98. Following the transaction, the chief executive officer now directly owns 1,435,428 shares of the company’s stock, valued at $6,976,180.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Kelly Londy sold 99,136 shares of Accuray stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $4.24, for a total transaction of $420,336.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,549 shares of company stock worth $550,135. 3.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Accuray by 4.4% in the second quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock worth $31,962,000 after purchasing an additional 281,789 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Accuray by 27.6% in the first quarter. Dimensional Fund Advisors LP now owns 858,013 shares of the medical equipment provider’s stock worth $4,076,000 after purchasing an additional 185,519 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Accuray by 2.0% in the second quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock worth $20,857,000 after purchasing an additional 85,400 shares during the last quarter. Northern Trust Corp grew its holdings in Accuray by 4.5% in the second quarter. Northern Trust Corp now owns 1,048,694 shares of the medical equipment provider’s stock worth $4,981,000 after purchasing an additional 45,134 shares during the last quarter. Finally, PDT Partners LLC grew its holdings in Accuray by 60.5% in the second quarter. PDT Partners LLC now owns 156,500 shares of the medical equipment provider’s stock worth $743,000 after purchasing an additional 58,985 shares during the last quarter. 78.86% of the stock is currently owned by institutional investors.
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Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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