Accuray (NASDAQ:ARAY) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Accuray (NASDAQ:ARAY) from a sell rating to a hold rating in a research note issued to investors on Monday.

ARAY has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Accuray in a research note on Monday, December 29th. BTIG Research decreased their target price on shares of Accuray from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Accuray currently has an average rating of “Hold” and a consensus target price of $4.00.

Accuray Stock Up 4.4%

Shares of ARAY opened at $0.89 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 2.06. Accuray has a 52 week low of $0.78 and a 52 week high of $2.95. The stock’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.35. The company has a market capitalization of $100.46 million, a price-to-earnings ratio of -5.54 and a beta of 1.10.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The business had revenue of $93.94 million for the quarter, compared to analysts’ expectations of $91.34 million. Accuray had a negative return on equity of 34.06% and a negative net margin of 4.28%. On average, sell-side analysts predict that Accuray will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Accuray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Accuray by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,476,677 shares of the medical equipment provider’s stock valued at $9,146,000 after buying an additional 106,087 shares during the period. Armistice Capital LLC raised its holdings in Accuray by 2.7% in the third quarter. Armistice Capital LLC now owns 3,324,000 shares of the medical equipment provider’s stock valued at $5,551,000 after acquiring an additional 88,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Accuray by 7.8% in the second quarter. Geode Capital Management LLC now owns 2,421,724 shares of the medical equipment provider’s stock worth $3,318,000 after acquiring an additional 174,703 shares during the last quarter. Acuitas Investments LLC grew its holdings in Accuray by 67.7% during the 3rd quarter. Acuitas Investments LLC now owns 2,392,126 shares of the medical equipment provider’s stock worth $3,995,000 after acquiring an additional 966,100 shares in the last quarter. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of Accuray in the 2nd quarter valued at approximately $2,055,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Company Profile

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.