Shares of Accuray Incorporated (NASDAQ:ARAY) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.20.
A number of brokerages have recently issued reports on ARAY. Lake Street Capital began coverage on Accuray in a research note on Thursday, November 30th. They issued a “buy” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. downgraded Accuray from a “neutral” rating to an “underweight” rating and set a $6.00 price target on the stock. in a research note on Wednesday, December 13th. BidaskClub downgraded Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Cowen reaffirmed a “buy” rating and set a $9.00 price target on shares of Accuray in a research note on Friday, October 27th. Finally, Zacks Investment Research raised Accuray from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th.
Shares of Accuray (NASDAQ ARAY) traded up $0.30 during trading hours on Monday, hitting $4.90. The stock had a trading volume of 1,086,340 shares, compared to its average volume of 715,689. The firm has a market cap of $410.40, a P/E ratio of -14.00 and a beta of 1.29. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.48 and a quick ratio of 0.92. Accuray has a 12 month low of $3.60 and a 12 month high of $6.00.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $88.26 million. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. research analysts predict that Accuray will post -0.23 EPS for the current fiscal year.
In related news, CEO Joshua Levine sold 17,093 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $4.86, for a total transaction of $83,071.98. Following the transaction, the chief executive officer now directly owns 1,435,428 shares of the company’s stock, valued at approximately $6,976,180.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevin Waters sold 7,154 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $5.06, for a total value of $36,199.24. Following the transaction, the chief financial officer now directly owns 335,087 shares in the company, valued at $1,695,540.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,413 shares of company stock worth $129,798. 3.90% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of ARAY. Schwab Charles Investment Management Inc. raised its stake in Accuray by 1.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 413,032 shares of the medical equipment provider’s stock worth $1,962,000 after buying an additional 4,812 shares during the period. SG Americas Securities LLC raised its stake in shares of Accuray by 10.6% in the second quarter. SG Americas Securities LLC now owns 71,295 shares of the medical equipment provider’s stock worth $339,000 after purchasing an additional 6,824 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Accuray by 1.5% in the second quarter. Wells Fargo & Company MN now owns 62,059 shares of the medical equipment provider’s stock worth $295,000 after purchasing an additional 936 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Accuray by 13.3% in the second quarter. Alliancebernstein L.P. now owns 96,891 shares of the medical equipment provider’s stock worth $460,000 after purchasing an additional 11,400 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Accuray by 83.5% in the second quarter. Teachers Advisors LLC now owns 235,490 shares of the medical equipment provider’s stock worth $1,119,000 after purchasing an additional 107,178 shares during the last quarter. 78.86% of the stock is currently owned by institutional investors and hedge funds.
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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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