BidaskClub cut shares of Accuray (NASDAQ:ARAY) from a hold rating to a sell rating in a report released on Wednesday morning.
Separately, Zacks Investment Research lowered Accuray from a buy rating to a hold rating in a research note on Tuesday, March 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $7.21.
NASDAQ:ARAY opened at $4.70 on Wednesday. The company has a market cap of $400.88, a PE ratio of -13.06 and a beta of 1.73. Accuray has a fifty-two week low of $3.60 and a fifty-two week high of $6.15. The company has a quick ratio of 0.99, a current ratio of 1.54 and a debt-to-equity ratio of 2.66.
Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Tuesday, January 23rd. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. The firm had revenue of $100.33 million during the quarter, compared to analyst estimates of $90.31 million. Accuray had a negative return on equity of 44.66% and a negative net margin of 6.09%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. sell-side analysts anticipate that Accuray will post -0.19 earnings per share for the current year.
In other news, CEO Joshua Levine sold 8,675 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $4.65, for a total transaction of $40,338.75. Following the completion of the sale, the chief executive officer now owns 1,426,753 shares of the company’s stock, valued at $6,634,401.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 14,257 shares of company stock valued at $66,295. Insiders own 3.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in ARAY. Bank of New York Mellon Corp raised its holdings in shares of Accuray by 4.2% during the third quarter. Bank of New York Mellon Corp now owns 634,657 shares of the medical equipment provider’s stock valued at $2,538,000 after acquiring an additional 25,354 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Accuray by 28.8% during the third quarter. Russell Investments Group Ltd. now owns 995,904 shares of the medical equipment provider’s stock valued at $3,982,000 after acquiring an additional 222,424 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Accuray during the third quarter valued at approximately $191,000. Wells Fargo & Company MN raised its holdings in shares of Accuray by 52.5% during the third quarter. Wells Fargo & Company MN now owns 94,664 shares of the medical equipment provider’s stock valued at $379,000 after acquiring an additional 32,605 shares in the last quarter. Finally, Sectoral Asset Management Inc raised its holdings in shares of Accuray by 16.9% during the third quarter. Sectoral Asset Management Inc now owns 687,547 shares of the medical equipment provider’s stock valued at $2,750,000 after acquiring an additional 99,200 shares in the last quarter. Institutional investors own 82.00% of the company’s stock.
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Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.
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