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

Accuray (NASDAQ:ARAY) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Accuray Trading Up 5.2 %

ARAY opened at $1.83 on Friday. The stock has a market capitalization of $188.18 million, a PE ratio of -36.60 and a beta of 1.46. The firm’s fifty day moving average price is $2.16 and its 200 day moving average price is $2.01. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.88. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. As a group, research analysts expect that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Trading of Accuray

Several institutional investors have recently added to or reduced their stakes in ARAY. US Bancorp DE raised its holdings in Accuray by 1,087.7% in the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 16,316 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Accuray during the third quarter worth $418,000. Thrivent Financial for Lutherans acquired a new stake in shares of Accuray during the third quarter worth $57,000. Caprock Group LLC acquired a new stake in shares of Accuray during the third quarter worth $36,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Accuray by 489.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 230,695 shares during the period. 64.08% of the stock is owned by institutional investors and hedge funds.

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.