StockNews.com Upgrades Accuray (NASDAQ:ARAY) to Buy

Accuray (NASDAQ:ARAYGet Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Accuray Price Performance

Shares of NASDAQ ARAY opened at $1.83 on Friday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. The company has a market cap of $188.18 million, a PE ratio of -36.60 and a beta of 1.46. The business has a 50-day simple moving average of $2.15 and a two-hundred day simple moving average of $2.00. Accuray has a fifty-two week low of $1.40 and a fifty-two week high of $2.95.

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

Institutional Investors Weigh In On Accuray

A number of institutional investors and hedge funds have recently modified their holdings of ARAY. US Bancorp DE lifted its holdings in shares of Accuray by 1,087.7% during the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 16,316 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Accuray during the third quarter worth about $418,000. Thrivent Financial for Lutherans acquired a new stake in shares of Accuray during the third quarter worth about $57,000. Caprock Group LLC acquired a new stake in shares of Accuray during the third quarter worth about $36,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted 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. Institutional investors and hedge funds own 64.08% of the company’s stock.

Accuray Company Profile

(Get Free Report)

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.

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