Cowen and Company reissued their buy rating on shares of Accuray Incorporated (NASDAQ:ARAY) in a report published on Friday. The firm currently has a $9.00 target price on the medical equipment provider’s stock.
A number of other equities analysts also recently commented on ARAY. Jefferies Group LLC reaffirmed a buy rating and issued a $7.00 price objective on shares of Accuray in a report on Friday, June 30th. Zacks Investment Research raised shares of Accuray from a strong sell rating to a hold rating in a report on Monday, July 17th. BidaskClub cut Accuray from a hold rating to a sell rating in a research note on Thursday, July 27th. Royal Bank Of Canada reiterated a hold rating and issued a $5.00 target price on shares of Accuray in a research note on Thursday, August 24th. Finally, BTIG Research reiterated a hold rating on shares of Accuray in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $6.29.
Shares of Accuray (NASDAQ:ARAY) opened at 4.70 on Friday. Accuray has a 52-week low of $3.60 and a 52-week high of $6.00. The company has a 50-day moving average of $4.30 and a 200 day moving average of $4.31. The stock’s market cap is $390.94 million.
Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Tuesday, October 24th. The medical equipment provider reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $91.00 million during the quarter, compared to the consensus estimate of $88.26 million. Accuray had a negative net margin of 7.49% and a negative return on equity of 55.91%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Equities research analysts forecast that Accuray will post ($0.24) EPS for the current fiscal year.
In other Accuray news, COO Kelly Londy sold 99,136 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $4.24, for a total value of $420,336.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Accuray by 4.4% in the second quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock worth $31,962,000 after acquiring an additional 281,789 shares in the last quarter. Renaissance Technologies LLC raised its position in Accuray by 2.0% in the second quarter. Renaissance Technologies LLC now owns 4,391,000 shares of the medical equipment provider’s stock worth $20,857,000 after acquiring an additional 85,400 shares in the last quarter. Lapides Asset Management LLC raised its position in Accuray by 0.3% in the second quarter. Lapides Asset Management LLC now owns 2,221,300 shares of the medical equipment provider’s stock worth $10,551,000 after acquiring an additional 7,500 shares in the last quarter. State Street Corp raised its position in Accuray by 4.2% in the second quarter. State Street Corp now owns 1,700,442 shares of the medical equipment provider’s stock worth $8,079,000 after acquiring an additional 67,983 shares in the last quarter. Finally, Royce & Associates LP raised its position in Accuray by 6.7% in the second quarter. Royce & Associates LP now owns 1,676,077 shares of the medical equipment provider’s stock worth $7,961,000 after acquiring an additional 105,000 shares in the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.
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.
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