Accuray (NASDAQ:ARAY) Upgraded 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 released on Friday.

Accuray Trading Down 1.4 %

ARAY stock opened at $1.46 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. The company has a market cap of $150.13 million, a price-to-earnings ratio of -29.20 and a beta of 1.30. The business has a fifty day simple moving average of $1.93 and a 200-day simple moving average of $1.96. Accuray has a 52 week low of $1.40 and a 52 week high of $2.95.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 EPS 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%. On average, equities research analysts expect that Accuray will post 0.01 EPS for the current year.

Institutional Investors Weigh In On Accuray

Institutional investors have recently bought and sold shares of the business. Gabelli Funds LLC boosted its holdings in Accuray by 12.5% in the 4th quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider’s stock worth $89,000 after acquiring an additional 5,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Accuray by 2.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 283,280 shares of the medical equipment provider’s stock worth $561,000 after purchasing an additional 5,421 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Accuray by 0.3% during 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 purchasing an additional 6,758 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Accuray by 0.9% in the fourth quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider’s stock valued at $1,603,000 after purchasing an additional 7,399 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Accuray by 50.7% during the 4th quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 9,187 shares in the last quarter. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

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.