Accuray (NASDAQ:ARAY) Stock Rating Lowered by StockNews.com

Accuray (NASDAQ:ARAYGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Accuray Stock Performance

ARAY stock opened at $1.32 on Monday. The stock’s fifty day moving average is $1.67 and its two-hundred day moving average is $1.92. The stock has a market capitalization of $135.22 million, a price-to-earnings ratio of -26.30 and a beta of 1.30. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. Accuray has a 1 year low of $1.28 and a 1 year high of $2.95.

Accuray (NASDAQ:ARAYGet Free Report) last posted its earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. The firm had revenue of $113.24 million during the quarter, compared to analyst estimates of $101.53 million. On average, research analysts predict that Accuray will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. bought a new position in Accuray in the 4th quarter valued at about $35,000. Prudential Financial Inc. bought a new position in shares of Accuray in the fourth quarter valued at approximately $43,000. ProShare Advisors LLC increased its stake in shares of Accuray by 50.7% during the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 9,187 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Accuray during the fourth quarter valued at approximately $66,000. Finally, Gabelli Funds LLC raised its holdings in Accuray by 12.5% during the fourth quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 5,000 shares in the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.

Accuray Company Profile

(Get Free Report)

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.

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