Accuray Incorporated (NASDAQ:ARAY) CFO Kevin Waters sold 7,154 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $5.06, for a total value of $36,199.24. Following the completion of the transaction, the chief financial officer now owns 335,087 shares of the company’s stock, valued at approximately $1,695,540.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Accuray Incorporated (ARAY) traded up $0.10 during mid-day trading on Friday, hitting $5.25. The company had a trading volume of 1,641,858 shares, compared to its average volume of 713,905. The company has a current ratio of 1.48, a quick ratio of 0.92 and a debt-to-equity ratio of 2.44. Accuray Incorporated has a twelve month low of $3.60 and a twelve 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $91.00 million for the quarter, compared to analyst estimates of $88.26 million. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) EPS. sell-side analysts expect that Accuray Incorporated will post -0.18 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ARAY. Vanguard Group Inc. increased its position in Accuray by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,447,130 shares of the medical equipment provider’s stock worth $30,623,000 after buying an additional 286,011 shares during the period. Dimensional Fund Advisors LP increased its position 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 buying an additional 185,519 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Accuray by 10.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 55,675 shares of the medical equipment provider’s stock worth $264,000 after buying an additional 5,407 shares during the period. Goldman Sachs Group Inc. increased its position in Accuray by 116.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock worth $143,000 after buying an additional 16,223 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Accuray by 13.4% in the second quarter. Russell Investments Group Ltd. now owns 773,480 shares of the medical equipment provider’s stock worth $3,673,000 after purchasing an additional 91,267 shares in the last quarter. 78.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on ARAY. Lake Street Capital began coverage on Accuray in a report on Thursday. They issued a “buy” rating and a $10.00 price target for the company. BTIG Research restated a “hold” rating on shares of Accuray in a report on Thursday, August 24th. Cowen restated a “buy” rating and issued a $9.00 price target on shares of Accuray in a report on Friday, October 27th. Zacks Investment Research cut Accuray from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, Jefferies Group cut their target price on Accuray from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $6.82.

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About Accuray

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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