Cowen and Company reissued their buy rating on shares of Accuray Incorporated (NASDAQ:ARAY) in a report released on Friday, October 27th. The brokerage currently has a $9.00 price target on the medical equipment provider’s stock.
A number of other equities research analysts have also recently weighed in on ARAY. Jefferies Group LLC restated a buy rating and issued a $7.00 price target on shares of Accuray in a research note on Friday, June 30th. Zacks Investment Research upgraded Accuray from a strong sell rating to a hold rating in a research note on Monday, July 17th. BidaskClub cut Accuray from a hold rating to a sell rating in a research note on Thursday, July 27th. Royal Bank of Canada restated a hold rating and issued a $5.00 price target on shares of Accuray in a research note on Thursday, August 24th. Finally, BTIG Research restated a hold rating on shares of Accuray in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Accuray has a consensus rating of Hold and a consensus target price of $6.29.
Accuray (NASDAQ ARAY) traded up $0.10 during midday trading on Friday, hitting $4.65. The stock had a trading volume of 481,200 shares, compared to its average volume of 680,184. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.48 and a quick ratio of 0.72. Accuray has a 12 month low of $3.60 and a 12 month high of $6.00.
Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Tuesday, October 24th. The medical equipment provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The company had revenue of $91.00 million during the quarter, compared to the consensus estimate of $88.26 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. sell-side analysts forecast that Accuray will post -0.18 earnings per share for the current year.
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In other Accuray news, COO Kelly Londy sold 99,136 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $4.24, for a total transaction of $420,336.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.90% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Aperio Group LLC bought a new position in Accuray during the 3rd quarter worth $111,000. Goldman Sachs Group Inc. increased its position in Accuray by 116.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock worth $143,000 after buying an additional 16,223 shares during the period. Bank of Nova Scotia bought a new position in Accuray during the 2nd quarter worth $168,000. AHL Partners LLP increased its position in Accuray by 28.4% during the 2nd quarter. AHL Partners LLP now owns 39,823 shares of the medical equipment provider’s stock worth $189,000 after buying an additional 8,817 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Accuray by 253.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 41,697 shares of the medical equipment provider’s stock worth $198,000 after buying an additional 29,900 shares during the period. Hedge funds and other institutional investors own 74.87% of the company’s stock.
Accuray Company Profile
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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