StockNews.com Upgrades Accuray (NASDAQ:ARAY) to Buy

Accuray (NASDAQ:ARAY) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Accuray Stock Down 1.4 %

ARAY stock opened at $1.46 on Friday. The company has a market cap of $150.13 million, a price-to-earnings ratio of -29.20 and a beta of 1.30. Accuray has a 12 month low of $1.40 and a 12 month high of $2.95. The firm has a 50-day moving average of $1.93 and a two-hundred day moving average of $1.96. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 3.51.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. As a group, analysts forecast that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Accuray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC increased its holdings in shares of Accuray by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider’s stock valued at $89,000 after purchasing an additional 5,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Accuray by 2.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 283,280 shares of the medical equipment provider’s stock worth $561,000 after buying an additional 5,421 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Accuray by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider’s stock worth $4,329,000 after acquiring an additional 6,758 shares during the period. Northern Trust Corp boosted its holdings in shares of Accuray by 0.9% in the fourth quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider’s stock valued at $1,603,000 after acquiring an additional 7,399 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Accuray by 50.7% during the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock worth $54,000 after acquiring an additional 9,187 shares during the period. 64.08% of the stock is owned by hedge funds and other institutional investors.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.