Accuray (ARAY) Downgraded by BidaskClub

Accuray (NASDAQ:ARAY) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

ARAY has been the subject of several other research 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 target price for the company. Zacks Investment Research upgraded Accuray from a “sell” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Friday, January 26th. JPMorgan Chase & Co. downgraded Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 target price for the company. in a research note on Wednesday, December 13th. Cowen restated a “buy” rating and issued a $9.00 target price on shares of Accuray in a research note on Friday, October 27th. Finally, Royal Bank of Canada set a $6.00 target price on Accuray and gave the stock a “hold” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.25.

Accuray (ARAY) opened at $5.20 on Thursday. Accuray has a 12 month low of $3.60 and a 12 month high of $6.15. The company has a quick ratio of 0.92, a current ratio of 1.54 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $448.46, a PE ratio of -17.93 and a beta of 1.76.

Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, January 23rd. The medical equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. Accuray had a negative return on equity of 44.66% and a negative net margin of 6.09%. The business had revenue of $100.33 million during the quarter, compared to the consensus estimate of $90.31 million. During the same quarter last year, the company earned ($0.11) EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. equities analysts expect that Accuray will post -0.19 earnings per share for the current year.

In other news, CFO Kevin Waters sold 7,154 shares of Accuray stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $5.06, for a total transaction of $36,199.24. Following the completion of the sale, the chief financial officer now owns 335,087 shares in the company, valued at approximately $1,695,540.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joshua Levine sold 17,093 shares of Accuray stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $4.86, for a total value of $83,071.98. Following the sale, the chief executive officer now owns 1,435,428 shares of the company’s stock, valued at approximately $6,976,180.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,413 shares of company stock valued at $129,798. Corporate insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position 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 valued at $31,962,000 after acquiring an additional 281,789 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 acquiring an additional 85,400 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Accuray by 28.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 995,904 shares of the medical equipment provider’s stock valued at $3,982,000 after acquiring an additional 222,424 shares during the last quarter. Northern Trust Corp boosted its position in shares of 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 acquiring an additional 45,134 shares during the last quarter. Finally, Boston Partners boosted its position 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 valued at $9,105,000 after acquiring an additional 414,070 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

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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.

Analyst Recommendations for Accuray (NASDAQ:ARAY)

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