BidaskClub downgraded shares of Accuray (NASDAQ:ARAY) from a sell rating to a strong sell rating in a research note published on Friday morning.
A number of other research analysts have also recently issued reports on ARAY. ValuEngine raised Accuray from a sell rating to a hold rating in a report on Friday, May 18th. Zacks Investment Research raised Accuray from a strong sell rating to a hold rating in a report on Tuesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $6.68.
Shares of NASDAQ ARAY opened at $3.87 on Friday. The firm has a market cap of $329.71 million, a price-to-earnings ratio of -10.78 and a beta of 1.64. Accuray has a 52-week low of $3.20 and a 52-week high of $6.15. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.62 and a quick ratio of 0.97.
Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Thursday, August 16th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $113.79 million during the quarter, compared to analysts’ expectations of $108.45 million. Accuray had a negative return on equity of 52.91% and a negative net margin of 7.00%. During the same period last year, the business earned ($0.04) earnings per share. sell-side analysts predict that Accuray will post -0.29 earnings per share for the current year.
In related news, CFO Kevin Waters sold 14,265 shares of Accuray stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $4.08, for a total value of $58,201.20. Following the completion of the sale, the chief financial officer now directly owns 313,995 shares in the company, valued at $1,281,099.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joshua Levine sold 34,235 shares of Accuray stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $4.08, for a total value of $139,678.80. Following the completion of the sale, the chief executive officer now owns 1,392,518 shares of the company’s stock, valued at $5,681,473.44. The disclosure for this sale can be found here. Insiders sold 57,059 shares of company stock valued at $232,801 over the last ninety days. 3.90% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. acquired a new stake in Accuray in the first quarter worth about $107,000. First Trust Advisors LP increased its position in Accuray by 113.1% in the second quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock worth $112,000 after purchasing an additional 14,508 shares during the period. KBC Group NV acquired a new stake in Accuray in the second quarter worth about $112,000. Element Capital Management LLC acquired a new stake in Accuray in the first quarter worth about $141,000. Finally, Redmile Group LLC acquired a new stake in Accuray in the first quarter worth about $145,000. Hedge funds and other institutional investors own 85.17% of the company’s stock.
Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company 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.
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