Shares of Accuray Incorporated (NASDAQ:ARAY) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.38.
Several brokerages have recently weighed in on ARAY. Citigroup upgraded Accuray from a “sell” rating to a “neutral” rating and raised their price target for the company from $3.50 to $3.90 in a report on Thursday. BTIG Research restated a “hold” rating on shares of Accuray in a report on Wednesday, August 22nd. Jefferies Financial Group restated a “buy” rating and set a $6.00 price target on shares of Accuray in a report on Friday, August 17th. Finally, BidaskClub downgraded Accuray from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th.
Shares of NASDAQ:ARAY opened at $4.75 on Friday. Accuray has a 1-year low of $3.20 and a 1-year high of $6.15. The company has a quick ratio of 1.04, a current ratio of 1.68 and a debt-to-equity ratio of 2.70. The firm has a market cap of $410.86 million, a PE ratio of -16.96 and a beta of 1.60.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Accuray had a negative net margin of 5.79% and a negative return on equity of 42.15%. The company had revenue of $95.83 million for the quarter, compared to the consensus estimate of $95.10 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. On average, sell-side analysts predict that Accuray will post -0.14 EPS for the current fiscal year.
In related news, CEO Joshua Levine sold 18,742 shares of Accuray stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $4.69, for a total value of $87,899.98. Following the completion of the sale, the chief executive officer now directly owns 1,355,551 shares in the company, valued at approximately $6,357,534.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shigeyuki Hamamatsu sold 8,762 shares of Accuray stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $4.48, for a total value of $39,253.76. Following the completion of the sale, the chief financial officer now owns 116,238 shares of the company’s stock, valued at $520,746.24. The disclosure for this sale can be found here. Insiders sold a total of 48,378 shares of company stock valued at $218,502 over the last quarter. 3.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARAY. Legal & General Group Plc increased its holdings in Accuray by 6,287.6% in the 1st quarter. Legal & General Group Plc now owns 1,361,381 shares of the medical equipment provider’s stock worth $6,807,000 after buying an additional 1,340,068 shares in the last quarter. BlackRock Inc. increased its holdings in Accuray by 10.0% in the 1st quarter. BlackRock Inc. now owns 8,090,671 shares of the medical equipment provider’s stock worth $40,454,000 after buying an additional 737,107 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Accuray by 41.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,874,105 shares of the medical equipment provider’s stock worth $9,371,000 after purchasing an additional 553,814 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Accuray in the third quarter worth about $1,668,000. Finally, Systematic Financial Management LP purchased a new position in Accuray in the second quarter worth about $1,064,000. Institutional investors own 83.47% of the company’s stock.
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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