Accuray (NASDAQ:ARAY) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

A number of other brokerages have also recently issued reports on ARAY. ValuEngine cut Accuray from a buy rating to a hold rating in a report on Monday, August 3rd. Cowen reiterated an average rating and issued a $8.00 price target on shares of Accuray in a research note on Sunday, June 21st. Zacks Investment Research upgraded Accuray from a sell rating to a hold rating and set a $3.00 price target for the company in a research note on Wednesday, August 19th. Lake Street Capital reiterated a buy rating and issued a $10.00 price target on shares of Accuray in a research note on Sunday, June 21st. Finally, BTIG Research reiterated a buy rating and issued a $6.00 price target on shares of Accuray in a research note on Friday, August 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $6.75.

Shares of NASDAQ:ARAY opened at $3.17 on Friday. Accuray has a 12-month low of $1.33 and a 12-month high of $4.68. The stock has a market cap of $288.64 million, a PE ratio of 105.50 and a beta of 2.02. The business has a 50 day moving average of $2.52 and a 200-day moving average of $2.27. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 2.97.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Thursday, August 13th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Accuray had a negative return on equity of 12.85% and a net margin of 0.82%. The company had revenue of $94.98 million during the quarter, compared to analysts’ expectations of $99.40 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities research analysts expect that Accuray will post -0.17 earnings per share for the current year.

In other Accuray news, CEO Joshua Levine sold 15,370 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $2.43, for a total transaction of $37,349.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% 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. ProShare Advisors LLC bought a new stake in Accuray during the second quarter worth $25,000. HighTower Advisors LLC bought a new stake in Accuray during the first quarter worth $29,000. US Bancorp DE lifted its stake in Accuray by 950.0% during the first quarter. US Bancorp DE now owns 15,750 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 14,250 shares during the last quarter. Diversified Trust Co bought a new stake in Accuray during the second quarter worth $31,000. Finally, Virtu Financial LLC acquired a new position in shares of Accuray during the second quarter worth $34,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

About Accuray

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body in the Americas, Europe, the Middle East, India, Japan, Africa, and rest of the Asia Pacific region. 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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