BidaskClub upgraded shares of Accuray (NASDAQ:ARAY) from a sell rating to a hold rating in a research report sent to investors on Friday morning, BidAskClub reports.

Separately, BTIG Research upgraded Accuray from a neutral rating to a buy rating and set a $9.50 price target for the company in a research report on Tuesday, January 21st.

Shares of ARAY opened at $3.77 on Friday. The company has a market cap of $349.87 million, a PE ratio of -19.84 and a beta of 1.98. The business has a fifty day moving average of $2.99 and a 200 day moving average of $3.03. Accuray has a 52-week low of $2.35 and a 52-week high of $5.40. The company has a quick ratio of 1.20, a current ratio of 1.94 and a debt-to-equity ratio of 5.22.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, October 29th. The medical equipment provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $89.58 million during the quarter, compared to the consensus estimate of $93.34 million. Accuray had a negative return on equity of 35.92% and a negative net margin of 4.02%. As a group, research analysts anticipate that Accuray will post -0.14 earnings per share for the current fiscal year.

In related news, Director Joseph E. Whitters purchased 25,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $2.60 per share, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 144,377 shares in the company, valued at $375,380.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shigeyuki Hamamatsu sold 10,563 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $2.70, for a total value of $28,520.10. Following the completion of the sale, the chief financial officer now owns 185,644 shares of the company’s stock, valued at $501,238.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,663 shares of company stock valued at $169,767. 3.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in Accuray by 25.8% in the third quarter. Russell Investments Group Ltd. now owns 2,854,307 shares of the medical equipment provider’s stock worth $7,909,000 after purchasing an additional 585,024 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Accuray by 16.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,755,925 shares of the medical equipment provider’s stock worth $10,665,000 after purchasing an additional 384,714 shares during the period. Boston Partners increased its stake in Accuray by 70.6% in the second quarter. Boston Partners now owns 860,091 shares of the medical equipment provider’s stock worth $3,329,000 after purchasing an additional 355,855 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Accuray by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 814,154 shares of the medical equipment provider’s stock worth $3,151,000 after purchasing an additional 20,288 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in Accuray in the second quarter worth $2,785,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

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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