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

StockNews.com upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a research note published on Tuesday.

Accuray Stock Performance

Shares of NASDAQ ARAY opened at $1.66 on Tuesday. 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 one year low of $1.28 and a one year high of $2.95. The business’s 50-day moving average price is $1.64 and its two-hundred day moving average price is $1.91. The company has a market capitalization of $171.00 million, a P/E ratio of -33.20 and a beta of 1.30.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. The business had revenue of $113.24 million during the quarter, compared to analysts’ expectations of $101.53 million. Analysts anticipate that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Heartland Advisors Inc. lifted its stake in shares of Accuray by 11.8% in the 1st quarter. Heartland Advisors Inc. now owns 4,274,750 shares of the medical equipment provider’s stock valued at $7,652,000 after purchasing an additional 450,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Accuray by 6.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider’s stock valued at $5,900,000 after buying an additional 189,414 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Accuray by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider’s stock worth $4,329,000 after buying an additional 6,758 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Accuray by 5.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,793,391 shares of the medical equipment provider’s stock worth $3,551,000 after buying an additional 91,529 shares during the last quarter. Finally, Acuitas Investments LLC boosted its stake in shares of Accuray by 100.4% during the 1st quarter. Acuitas Investments LLC now owns 1,420,207 shares of the medical equipment provider’s stock worth $2,542,000 after acquiring an additional 711,654 shares in 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.