Accuray (NASDAQ:ARAY) Stock Rating Lowered by StockNews.com

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

Accuray Stock Down 4.0 %

Shares of NASDAQ ARAY opened at $2.16 on Tuesday. The company’s 50 day moving average price is $2.15 and its 200-day moving average price is $2.00. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. Accuray has a 52-week low of $1.40 and a 52-week high of $2.95. The company has a market capitalization of $222.11 million, a P/E ratio of -43.20 and a beta of 1.51.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. Equities analysts forecast that Accuray will post 0.01 earnings per share for the current year.

Institutional Trading of Accuray

Several hedge funds have recently modified their holdings of ARAY. Foundry Partners LLC grew its holdings in Accuray by 51.3% in the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock worth $3,937,000 after purchasing an additional 741,900 shares during the period. State Street Corp boosted its holdings in Accuray by 3.8% in the third quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock worth $3,410,000 after acquiring an additional 70,008 shares in the last quarter. Barclays PLC increased its holdings in shares of Accuray by 97.9% during the third quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock valued at $380,000 after acquiring an additional 104,310 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Accuray by 1,650.6% during the third quarter. BNP Paribas Financial Markets now owns 146,384 shares of the medical equipment provider’s stock worth $263,000 after purchasing an additional 138,022 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Accuray by 489.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after purchasing an additional 230,695 shares during the period. Institutional investors own 64.08% of the company’s stock.

About Accuray

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.