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

Accuray (NASDAQ:ARAY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Accuray Price Performance

Shares of ARAY opened at $1.82 on Friday. The business has a 50-day moving average of $2.09 and a 200-day moving average of $1.99. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.88. The company has a market capitalization of $187.15 million, a price-to-earnings ratio of -36.40 and a beta of 1.46. Accuray has a 1 year low of $1.40 and a 1 year high of $2.95.

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

Institutional Trading of Accuray

A number of large investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans bought a new stake in shares of Accuray during the 3rd quarter valued at about $57,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Accuray by 489.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after buying an additional 230,695 shares during the period. Intech Investment Management LLC bought a new position in shares of Accuray during the 3rd quarter worth approximately $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Accuray during the 3rd quarter worth approximately $231,000. Finally, FMR LLC increased its stake in shares of Accuray by 27.2% in the 3rd quarter. FMR LLC now owns 582,591 shares of the medical equipment provider’s stock valued at $1,049,000 after acquiring an additional 124,459 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.