Accuray (NASDAQ:ARAY) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $6.00 price target on the medical equipment provider’s stock. J P Morgan Chase & Co’s target price suggests a potential upside of 31.87% from the company’s current price.
ARAY has been the subject of several other reports. Lake Street Capital started coverage on Accuray in a research note on Thursday, November 30th. They issued a “buy” rating and a $10.00 price objective for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Accuray in a research note on Thursday, August 24th. Jefferies Group dropped their price objective on Accuray from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Zacks Investment Research raised Accuray from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Tuesday, October 24th. Finally, BidaskClub downgraded Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.82.
Shares of Accuray (NASDAQ ARAY) traded down $0.50 during mid-day trading on Wednesday, hitting $4.55. The stock had a trading volume of 1,907,032 shares, compared to its average volume of 724,010. Accuray has a fifty-two week low of $3.60 and a fifty-two week high of $6.00. The company has a quick ratio of 0.92, a current ratio of 1.48 and a debt-to-equity ratio of 2.44.
In related news, COO Kelly Londy sold 99,136 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $4.24, for a total value of $420,336.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joshua Levine sold 17,093 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $4.86, for a total value of $83,071.98. Following the completion of the transaction, the chief executive officer now directly owns 1,435,428 shares of the company’s stock, valued at $6,976,180.08. The disclosure for this sale can be found here. Insiders sold a total of 125,549 shares of company stock valued at $550,135 over the last ninety days. 3.90% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Accuray by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock valued at $31,962,000 after buying an additional 281,789 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Accuray by 27.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 858,013 shares of the medical equipment provider’s stock valued at $4,076,000 after buying an additional 185,519 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Accuray by 2.0% during the 2nd quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock valued at $20,857,000 after buying an additional 85,400 shares during the last quarter. Northern Trust Corp grew its holdings in Accuray by 4.5% during the 2nd quarter. Northern Trust Corp now owns 1,048,694 shares of the medical equipment provider’s stock valued at $4,981,000 after buying an additional 45,134 shares during the last quarter. Finally, PDT Partners LLC grew its holdings in Accuray by 60.5% during the 2nd quarter. PDT Partners LLC now owns 156,500 shares of the medical equipment provider’s stock valued at $743,000 after buying an additional 58,985 shares during the last quarter. Hedge funds and other institutional investors own 78.86% of the company’s stock.
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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.
