Accuray (NASDAQ:ARAY) Lowered to “Hold” at StockNews.com

Accuray (NASDAQ:ARAYGet Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Other research analysts have also issued research reports about the stock. TheStreet lowered shares of Accuray from a “c-” rating to a “d” rating in a research note on Thursday, April 28th. B. Riley started coverage on shares of Accuray in a research note on Thursday. They set a “buy” rating and a $7.50 price target on the stock.

ARAY stock traded up $0.22 on Thursday, hitting $2.14. 1,382,915 shares of the company’s stock traded hands, compared to its average volume of 908,095. Accuray has a 1-year low of $1.70 and a 1-year high of $5.93. The stock has a market cap of $198.60 million, a price-to-earnings ratio of -15.28 and a beta of 1.94. The stock has a fifty day moving average of $2.39 and a 200-day moving average of $3.38. The company has a current ratio of 1.72, a quick ratio of 1.04 and a debt-to-equity ratio of 3.36.

Accuray (NASDAQ:ARAYGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.05. The firm had revenue of $96.17 million for the quarter, compared to analyst estimates of $99.50 million. Accuray had a negative net margin of 3.01% and a negative return on equity of 5.68%. On average, equities research analysts anticipate that Accuray will post -0.09 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Accuray by 0.9% during the 3rd quarter. Goldman Sachs Group Inc. now owns 292,039 shares of the medical equipment provider’s stock worth $1,154,000 after acquiring an additional 2,530 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Accuray by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,883,058 shares of the medical equipment provider’s stock worth $7,438,000 after acquiring an additional 33,118 shares during the period. Marshall Wace LLP bought a new position in shares of Accuray during the 3rd quarter worth about $1,948,000. Beacon Pointe Advisors LLC bought a new position in shares of Accuray during the 3rd quarter worth about $87,000. Finally, Metropolitan Life Insurance Co NY lifted its holdings in shares of Accuray by 41.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 25,067 shares of the medical equipment provider’s stock worth $99,000 after acquiring an additional 7,401 shares during the period. 80.80% of the stock is owned by hedge funds and other institutional investors.

About Accuray (Get Rating)

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the Americas, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It 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, such as prostate, lung, brain, spine, liver, pancreas, and kidney.

Featured Stories

Receive News & Ratings for Accuray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray and related companies with MarketBeat.com's FREE daily email newsletter.