Accuray (NASDAQ:ARAY) Raised to “Buy” at StockNews.com

Accuray (NASDAQ:ARAYGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

NASDAQ ARAY opened at $2.83 on Thursday. Accuray has a 12 month low of $2.77 and a 12 month high of $5.93. The company has a market capitalization of $262.44 million, a P/E ratio of -21.77 and a beta of 1.91. The company’s 50 day simple moving average is $3.32 and its 200 day simple moving average is $4.16. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.72 and a quick ratio of 1.11.

Accuray (NASDAQ:ARAYGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Accuray had a negative return on equity of 3.98% and a negative net margin of 2.82%. On average, analysts anticipate that Accuray will post -0.14 earnings per share for the current year.

In related news, VP Michael Hoge sold 11,653 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $3.43, for a total value of $39,969.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Suzanne C. Winter acquired 11,239 shares of the stock in a transaction on Monday, January 31st. The shares were purchased at an average price of $3.53 per share, for a total transaction of $39,673.67. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd purchased a new position in Accuray during the 4th quarter valued at about $41,000. Point72 Hong Kong Ltd increased its stake in Accuray by 195.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 10,431 shares of the medical equipment provider’s stock valued at $50,000 after buying an additional 6,896 shares during the period. Bowling Portfolio Management LLC purchased a new stake in Accuray in the 1st quarter worth approximately $51,000. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Accuray during the 4th quarter valued at $54,000. Finally, LPL Financial LLC purchased a new position in shares of Accuray during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 70.43% of the company’s stock.

Accuray Company Profile (Get Rating)

Accuray Incorporated develops, manufactures, and sells radiotherapy systems for alternative cancer treatments in the Americas, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It 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, such as prostate, lung, brain, spine, liver, pancreas, and kidney.

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