BidaskClub Lowers Accuray (ARAY) to Hold

Accuray (NASDAQ:ARAY) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other equities research analysts have also weighed in on ARAY. Zacks Investment Research raised Accuray from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Monday, February 5th. Royal Bank of Canada set a $6.00 target price on Accuray and gave the stock a “hold” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lowered Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 target price on the stock. in a research report on Wednesday, December 13th. Lake Street Capital began coverage on Accuray in a research report on Thursday, November 30th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Cowen reissued a “buy” rating and set a $9.00 target price on shares of Accuray in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.25.

Accuray (NASDAQ:ARAY) traded up $0.15 during mid-day trading on Thursday, reaching $5.20. The company’s stock had a trading volume of 1,660,361 shares, compared to its average volume of 1,530,703. The company has a quick ratio of 0.92, a current ratio of 1.54 and a debt-to-equity ratio of 2.66. The firm has a market cap of $443.52, a price-to-earnings ratio of -17.93 and a beta of 1.77. Accuray has a 52 week low of $3.60 and a 52 week high of $6.15.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Tuesday, January 23rd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. The company had revenue of $100.33 million for the quarter, compared to analyst estimates of $90.31 million. Accuray had a negative return on equity of 44.66% and a negative net margin of 6.09%. Accuray’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS. equities analysts anticipate that Accuray will post -0.19 earnings per share for the current fiscal year.

In other Accuray news, CEO Joshua Levine sold 17,093 shares of Accuray stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $4.86, for a total transaction of $83,071.98. Following the transaction, the chief executive officer now owns 1,435,428 shares of the company’s stock, valued at $6,976,180.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Waters sold 7,154 shares of Accuray 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 transaction, the chief financial officer now directly owns 335,087 shares in the company, valued at approximately $1,695,540.22. The disclosure for this sale can be found here. Insiders have sold a total of 26,413 shares of company stock worth $129,798 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC acquired a new position in Accuray during the third quarter worth approximately $111,000. Teacher Retirement System of Texas acquired a new position in Accuray during the fourth quarter worth approximately $128,000. Bank of Nova Scotia acquired a new position in Accuray during the second quarter worth approximately $168,000. AHL Partners LLP increased its position in Accuray by 28.4% during the second quarter. AHL Partners LLP now owns 39,823 shares of the medical equipment provider’s stock worth $189,000 after buying an additional 8,817 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Accuray by 253.5% during the second quarter. UBS Asset Management Americas Inc. now owns 41,697 shares of the medical equipment provider’s stock worth $198,000 after buying an additional 29,900 shares during the period. 78.54% of the stock is currently owned by institutional investors.

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Accuray Company Profile

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.

Analyst Recommendations for Accuray (NASDAQ:ARAY)

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