BTIG Research Cuts Accuray (NASDAQ:ARAY) Price Target to $2.00

Accuray (NASDAQ:ARAY) had its price target trimmed by BTIG Research from $4.00 to $2.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

A number of other research analysts have also commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Accuray in a research report on Monday, December 29th. Wall Street Zen raised Accuray from a “sell” rating to a “hold” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Accuray has an average rating of “Hold” and a consensus target price of $2.00.

Accuray Stock Up 3.3%

NASDAQ:ARAY opened at $0.62 on Thursday. The firm’s 50 day simple moving average is $0.88 and its 200 day simple moving average is $1.26. Accuray has a one year low of $0.54 and a one year high of $2.69. The company has a market cap of $70.27 million, a PE ratio of -2.14 and a beta of 1.15. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.56 and a quick ratio of 0.76.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $102.24 million during the quarter, compared to analyst estimates of $100.86 million. Accuray had a negative net margin of 8.15% and a negative return on equity of 57.29%. On average, research analysts anticipate that Accuray will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Accuray

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Accuray during the 3rd quarter valued at about $35,000. Tower Research Capital LLC TRC grew its position in Accuray by 604.2% during the second quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 30,182 shares during the last quarter. BNP Paribas Financial Markets grew its position in Accuray by 32.4% during the third quarter. BNP Paribas Financial Markets now owns 39,369 shares of the medical equipment provider’s stock valued at $66,000 after acquiring an additional 9,633 shares during the last quarter. Teton Advisors LLC purchased a new position in shares of Accuray during the third quarter worth approximately $67,000. Finally, R Squared Ltd lifted its holdings in shares of Accuray by 94.0% in the 3rd quarter. R Squared Ltd now owns 40,550 shares of the medical equipment provider’s stock worth $68,000 after acquiring an additional 19,648 shares during the last quarter. 64.08% of the stock is currently owned by hedge funds and other 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.