BidaskClub cut shares of Accuray (NASDAQ:ARAY) from a buy rating to a hold rating in a research note released on Tuesday morning.

ARAY has been the subject of a number of other reports. Lake Street Capital started coverage on Accuray in a research note on Thursday, November 30th. They set a buy rating and a $10.00 price target for the company. Royal Bank of Canada reaffirmed a hold rating and set a $5.00 price target on shares of Accuray in a research note on Thursday, August 24th. Jefferies Group cut their price target 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 target for the company in a research note on Tuesday, October 24th. Finally, Cowen reaffirmed a buy rating and set a $9.00 price target on shares of Accuray in a research note on Friday, October 27th. One research 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. The company currently has a consensus rating of Hold and a consensus target price of $6.82.

Accuray (NASDAQ:ARAY) traded down $0.09 on Tuesday, hitting $4.36. The stock had a trading volume of 2,125,836 shares, compared to its average volume of 728,483. Accuray has a 52 week low of $3.60 and a 52 week high of $6.00. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.48 and a quick ratio of 0.92.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The company had revenue of $91.00 million during the quarter, compared to the consensus estimate of $88.26 million. During the same period last year, the business earned ($0.12) EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. research analysts forecast that Accuray will post -0.18 EPS for the current fiscal year.

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 sale was disclosed in a filing with the SEC, 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 in the company, 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 worth $550,135 over the last three months. 3.90% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of ARAY. Neuberger Berman Group LLC increased its position in Accuray by 9.9% in 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 buying an additional 473,008 shares during the period. Vident Investment Advisory LLC increased its position in 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 during the period. Sectoral Asset Management Inc increased its position in Accuray by 16.9% in the 3rd quarter. Sectoral Asset Management Inc now owns 687,547 shares of the medical equipment provider’s stock worth $2,750,000 after buying an additional 99,200 shares during the period. Wells Fargo & Company MN increased its position in Accuray by 52.5% in the 3rd quarter. Wells Fargo & Company MN now owns 94,664 shares of the medical equipment provider’s stock worth $379,000 after buying an additional 32,605 shares during the period. Finally, Wasatch Advisors Inc. increased its position in Accuray by 5.9% in the 3rd quarter. Wasatch Advisors Inc. now owns 291,716 shares of the medical equipment provider’s stock worth $1,167,000 after buying an additional 16,216 shares during the period. 78.86% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Accuray (ARAY) Downgraded by BidaskClub” was reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.watchlistnews.com/accuray-aray-downgraded-by-bidaskclub/1765928.html.

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.

Analyst Recommendations for Accuray (NASDAQ:ARAY)

Receive News & Ratings for Accuray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray and related companies with MarketBeat.com's FREE daily email newsletter.