Accuray’s (ARAY) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Accuray (NASDAQ:ARAY) in a research note published on Thursday, MarketBeat Ratings reports. BTIG Research currently has a $5.00 price objective on the medical equipment provider’s stock, up from their prior price objective of $4.00.

Separately, Wall Street Zen upgraded Accuray from a “hold” rating to a “buy” rating in a report on Friday, May 30th.

Accuray Price Performance

Shares of NASDAQ:ARAY opened at $1.40 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.92 and a debt-to-equity ratio of 3.35. Accuray has a 1 year low of $1.14 and a 1 year high of $2.95. The business has a fifty day simple moving average of $1.34 and a 200 day simple moving average of $1.62. The firm has a market cap of $157.70 million, a price-to-earnings ratio of -70.00 and a beta of 1.24.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, August 13th. The medical equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Accuray had a negative return on equity of 5.79% and a negative net margin of 0.35%. The firm had revenue of $127.54 million for the quarter, compared to analysts’ expectations of $123.78 million. As a group, sell-side analysts predict that Accuray will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accuray

Several institutional investors have recently bought and sold shares of ARAY. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in Accuray during the second quarter valued at about $2,055,000. Armistice Capital LLC raised its holdings in Accuray by 105.2% during the first quarter. Armistice Capital LLC now owns 2,536,000 shares of the medical equipment provider’s stock valued at $4,539,000 after buying an additional 1,300,000 shares in the last quarter. Silverback Asset Management LLC raised its holdings in Accuray by 1,588.4% during the second quarter. Silverback Asset Management LLC now owns 1,166,054 shares of the medical equipment provider’s stock valued at $1,597,000 after buying an additional 1,096,993 shares in the last quarter. Acuitas Investments LLC raised its holdings in Accuray by 100.4% during the first quarter. Acuitas Investments LLC now owns 1,420,207 shares of the medical equipment provider’s stock valued at $2,542,000 after buying an additional 711,654 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Accuray during the second quarter valued at about $820,000. 64.08% of the stock is currently owned by 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.