Accuray (NASDAQ:ARAY) Cut to “Sell” at Wall Street Zen

Accuray (NASDAQ:ARAY) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Accuray in a research report on Monday, December 29th. BTIG Research cut their price objective on shares of Accuray from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.00.

Accuray Trading Up 3.3%

Shares of NASDAQ:ARAY opened at $0.62 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 2.06. The company’s 50-day moving average price is $0.88 and its 200 day moving average price is $1.26. The company has a market cap of $70.27 million, a PE ratio of -2.14 and a beta of 1.15. Accuray has a fifty-two week low of $0.54 and a fifty-two week high of $2.69.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $102.24 million for the quarter, compared to analyst estimates of $100.86 million. Accuray had a negative net margin of 8.15% and a negative return on equity of 57.29%. Sell-side analysts anticipate that Accuray will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 106,087 shares during the last quarter. Weber Capital Management LLC ADV bought a new stake in shares of Accuray in the 4th quarter worth approximately $4,169,000. Armistice Capital LLC lifted its stake in Accuray by 2.7% during 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 purchasing an additional 88,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Accuray by 7.8% during 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 buying an additional 174,703 shares in the last quarter. Finally, Acuitas Investments LLC grew its position in Accuray by 67.7% in the third quarter. Acuitas Investments LLC now owns 2,392,126 shares of the medical equipment provider’s stock worth $3,995,000 after buying an additional 966,100 shares during the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.

About Accuray

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.