Accuray (NASDAQ:ARAY) Upgraded to “Hold” at Wall Street Zen

Accuray (NASDAQ:ARAY) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Accuray in a report on Monday. BTIG Research reduced their price target on shares of Accuray from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Accuray currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Accuray Price Performance

Shares of NASDAQ ARAY opened at $0.91 on Friday. The firm has a market cap of $102.86 million, a P/E ratio of -5.67 and a beta of 1.06. Accuray has a twelve month low of $0.86 and a twelve month high of $2.95. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 2.06. The company has a 50 day moving average of $1.23 and a 200 day moving average of $1.38.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, November 5th. The medical equipment provider reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.13). Accuray had a negative net margin of 4.28% and a negative return on equity of 34.06%. The business had revenue of $93.94 million for the quarter, compared to analysts’ expectations of $91.34 million. As a group, research analysts expect that Accuray will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Accuray

A number of institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in Accuray by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 278,384 shares of the medical equipment provider’s stock valued at $498,000 after purchasing an additional 14,649 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Accuray by 44.0% during the 1st quarter. Deutsche Bank AG now owns 60,606 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 18,526 shares in the last quarter. Nuveen LLC purchased a new position in shares of Accuray during the 1st quarter valued at about $609,000. Russell Investments Group Ltd. grew its stake in shares of Accuray by 18,739.1% during the 1st quarter. Russell Investments Group Ltd. now owns 192,912 shares of the medical equipment provider’s stock valued at $345,000 after acquiring an additional 191,888 shares during the period. Finally, Algert Global LLC increased its holdings in Accuray by 104.7% in the 1st quarter. Algert Global LLC now owns 60,930 shares of the medical equipment provider’s stock worth $109,000 after acquiring an additional 31,170 shares in the last quarter. 64.08% of the stock is owned by institutional investors.

Accuray Company Profile

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.