Accuray (NASDAQ:ARAY) received a $4.00 target price from Royal Bank of Canada in a research note issued on Friday, TipRanks reports. The firm currently has a “hold” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 43.37% from the stock’s current price.

ARAY has been the subject of a number of other reports. BTIG Research restated a “hold” rating on shares of Accuray in a report on Wednesday, April 24th. BidaskClub downgraded Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $4.47.

NASDAQ ARAY traded down $0.04 on Friday, reaching $2.79. The company had a trading volume of 1,403,856 shares, compared to its average volume of 769,668. The firm has a market cap of $249.10 million, a price-to-earnings ratio of -18.60 and a beta of 1.84. Accuray has a fifty-two week low of $2.35 and a fifty-two week high of $5.40. The business has a 50 day moving average of $3.77 and a two-hundred day moving average of $4.22. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.71 and a quick ratio of 1.03.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Thursday, August 15th. The medical equipment provider reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). The company had revenue of $117.42 million during the quarter, compared to analyst estimates of $116.09 million. Accuray had a negative net margin of 3.92% and a negative return on equity of 27.11%. During the same quarter in the previous year, the company earned ($0.01) earnings per share. As a group, research analysts predict that Accuray will post -0.02 earnings per share for the current fiscal year.

In other Accuray news, CEO Joshua Levine sold 56,426 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $3.75, for a total transaction of $211,597.50. Following the sale, the chief executive officer now owns 977,167 shares of the company’s stock, valued at $3,664,376.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Kirkpatrick sold 8,222 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.75, for a total transaction of $30,832.50. Following the sale, the insider now directly owns 232,414 shares in the company, valued at approximately $871,552.50. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ARAY. Royal Bank of Canada boosted its position in Accuray by 376.1% during the second quarter. Royal Bank of Canada now owns 6,547 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 5,172 shares during the last quarter. Macquarie Group Ltd. boosted its position in Accuray by 46.7% during the fourth quarter. Macquarie Group Ltd. now owns 7,810 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 2,487 shares during the last quarter. Jane Street Group LLC bought a new stake in Accuray during the second quarter valued at $42,000. SG Americas Securities LLC bought a new stake in Accuray during the first quarter valued at $49,000. Finally, BNP Paribas Arbitrage SA boosted its position in Accuray by 1,515.8% during the first quarter. BNP Paribas Arbitrage SA now owns 19,099 shares of the medical equipment provider’s stock valued at $91,000 after acquiring an additional 17,917 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

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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