Analysts Set Accuray Incorporated (ARAY) Price Target at $6.38

Accuray Incorporated (NASDAQ:ARAY) has been given an average rating of “Hold” by the eight research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.48.

A number of brokerages have recently commented on ARAY. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Citigroup decreased their price objective on shares of Accuray from $4.00 to $3.50 and set a “sell” rating for the company in a research report on Friday, August 17th. BidaskClub downgraded shares of Accuray from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price objective on shares of Accuray in a research report on Friday, August 17th.

In other news, CEO Joshua Levine sold 17,242 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $4.38, for a total transaction of $75,519.96. Following the completion of the sale, the chief executive officer now owns 1,387,162 shares in the company, valued at approximately $6,075,769.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Shigeyuki Hamamatsu sold 8,762 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $4.48, for a total transaction of $39,253.76. Following the sale, the chief financial officer now owns 116,238 shares of the company’s stock, valued at approximately $520,746.24. The disclosure for this sale can be found here. In the last three months, insiders sold 48,378 shares of company stock valued at $218,502. Insiders own 3.40% of the company’s stock.

Institutional investors have recently modified their holdings of the business. First Trust Advisors LP raised its stake in Accuray by 113.1% in the 2nd quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock worth $112,000 after purchasing an additional 14,508 shares in the last quarter. KBC Group NV acquired a new stake in Accuray in the 2nd quarter worth about $112,000. Jane Street Group LLC acquired a new stake in Accuray in the 2nd quarter worth about $162,000. Dynamic Technology Lab Private Ltd raised its stake in Accuray by 110.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 42,993 shares of the medical equipment provider’s stock worth $193,000 after purchasing an additional 22,544 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Accuray by 37.5% in the 2nd quarter. California Public Employees Retirement System now owns 75,522 shares of the medical equipment provider’s stock worth $310,000 after purchasing an additional 20,600 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Accuray stock traded up $0.04 during mid-day trading on Thursday, reaching $4.10. The company’s stock had a trading volume of 917,742 shares, compared to its average volume of 704,044. Accuray has a 12 month low of $3.20 and a 12 month high of $6.15. The company has a market cap of $355.31 million, a P/E ratio of -14.64 and a beta of 1.60. The company has a current ratio of 1.69, a quick ratio of 0.96 and a debt-to-equity ratio of 2.74.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, October 30th. The medical equipment provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Accuray had a negative net margin of 5.79% and a negative return on equity of 42.24%. The firm had revenue of $95.83 million during the quarter, compared to the consensus estimate of $95.10 million. During the same period last year, the business earned ($0.11) EPS. On average, equities research analysts forecast that Accuray will post -0.14 EPS for the current year.

About Accuray

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.

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Analyst Recommendations for Accuray (NASDAQ:ARAY)

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