Accuray (NASDAQ:ARAY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a report published on Thursday morning.

Accuray Price Performance

Shares of NASDAQ:ARAY opened at $2.15 on Thursday. The firm has a market capitalization of $215.58 million, a PE ratio of -12.65 and a beta of 1.40. The company has a current ratio of 1.66, a quick ratio of 0.95 and a debt-to-equity ratio of 3.65. Accuray has a 1-year low of $1.40 and a 1-year high of $3.05. The business’s 50 day moving average is $1.89 and its 200-day moving average is $1.84.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $101.55 million for the quarter, compared to the consensus estimate of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 37.06%. During the same quarter in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts predict that Accuray will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Heartland Advisors Inc. grew its stake in shares of Accuray by 2.2% in the 1st quarter. Heartland Advisors Inc. now owns 2,919,200 shares of the medical equipment provider’s stock valued at $7,210,000 after purchasing an additional 61,700 shares during the period. First Eagle Investment Management LLC raised its stake in Accuray by 1.0% during the first quarter. First Eagle Investment Management LLC now owns 969,508 shares of the medical equipment provider’s stock worth $2,395,000 after acquiring an additional 10,000 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Accuray by 229.2% during the first quarter. EntryPoint Capital LLC now owns 63,786 shares of the medical equipment provider’s stock valued at $158,000 after acquiring an additional 44,411 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Accuray by 9.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after purchasing an additional 6,583 shares in the last quarter. Finally, Williams & Novak LLC grew its holdings in shares of Accuray by 259.2% in the 2nd quarter. Williams & Novak LLC now owns 96,900 shares of the medical equipment provider’s stock worth $176,000 after purchasing an additional 69,925 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.