Accuray (ARAY) Trading Down 5.8%

Shares of Accuray Incorporated (NASDAQ:ARAY) fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $3.95 and last traded at $4.05. 2,916,785 shares changed hands during trading, an increase of 278% from the average session volume of 770,859 shares. The stock had previously closed at $4.30.

Several equities analysts have recently commented on the stock. J P Morgan Chase & Co downgraded shares of Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 price objective for the company. in a research note on Wednesday, December 13th. BidaskClub cut shares of Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Lake Street Capital started coverage on shares of Accuray in a report on Thursday, November 30th. They set a “buy” rating and a $10.00 price target on the stock. Cowen reiterated a “buy” rating and set a $9.00 price target on shares of Accuray in a report on Friday, October 27th. Finally, Zacks Investment Research cut shares of Accuray from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $6.82.

The company has a current ratio of 1.48, a quick ratio of 0.92 and a debt-to-equity ratio of 2.44.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, October 24th. The medical equipment provider reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The firm had revenue of $91.00 million for 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 55.18%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. equities research analysts expect that Accuray Incorporated will post -0.2 earnings per share for the current year.

In other Accuray news, CFO Kevin Waters sold 7,154 shares of Accuray stock in a transaction on Friday, December 1st. The shares were sold at an average price of $5.06, for a total value of $36,199.24. Following the completion of the transaction, the chief financial officer now directly owns 335,087 shares of the company’s stock, valued at approximately $1,695,540.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kelly Londy sold 99,136 shares of Accuray stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $4.24, for a total transaction of $420,336.64. The disclosure for this sale can be found here. Insiders have sold a total of 125,549 shares of company stock worth $550,135 over the last 90 days. Insiders own 3.90% of the company’s stock.

Several large investors have recently modified their holdings of ARAY. Vident Investment Advisory LLC grew its stake in shares of Accuray by 75.4% in the 3rd quarter. Vident Investment Advisory LLC now owns 4,899,643 shares of the medical equipment provider’s stock worth $19,599,000 after buying an additional 2,106,215 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Accuray by 9.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 5,272,695 shares of the medical equipment provider’s stock worth $21,091,000 after purchasing an additional 473,008 shares during the period. Boston Partners boosted its stake in shares of Accuray by 22.2% during the 3rd quarter. Boston Partners now owns 2,276,184 shares of the medical equipment provider’s stock worth $9,105,000 after purchasing an additional 414,070 shares during the period. Vanguard Group Inc. boosted its stake in shares of Accuray by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,728,919 shares of the medical equipment provider’s stock worth $31,962,000 after purchasing an additional 281,789 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Accuray by 31.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,124,803 shares of the medical equipment provider’s stock worth $5,343,000 after purchasing an additional 266,790 shares during the period. 78.86% of the stock is owned by institutional investors and hedge funds.

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Accuray Company Profile

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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