Shares of Accuray Incorporated (NASDAQ:ARAY) have earned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.75.
A number of equities analysts recently issued reports on the company. BidaskClub cut Accuray from a “sell” rating to a “strong sell” rating in a report on Friday. Citigroup cut their target price on Accuray from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Friday. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 target price on shares of Accuray in a report on Friday. ValuEngine upgraded Accuray from a “sell” rating to a “hold” rating in a report on Friday, May 18th. Finally, Zacks Investment Research upgraded Accuray from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd.
In related news, CEO Joshua Levine sold 34,235 shares of the stock in a transaction on Tuesday, July 3rd. The stock was sold at an average price of $4.08, for a total value of $139,678.80. Following the transaction, the chief executive officer now directly owns 1,392,518 shares in the company, valued at approximately $5,681,473.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin Waters sold 14,265 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 313,995 shares in the company, valued at $1,281,099.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,059 shares of company stock worth $232,801. 3.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of ARAY. Wells Fargo & Company MN lifted its stake in Accuray by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 121,054 shares of the medical equipment provider’s stock valued at $520,000 after acquiring an additional 26,390 shares in the last quarter. Deutsche Bank AG lifted its stake in Accuray by 142.0% during the 4th quarter. Deutsche Bank AG now owns 181,513 shares of the medical equipment provider’s stock valued at $778,000 after acquiring an additional 106,501 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Accuray by 22.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 126,726 shares of the medical equipment provider’s stock valued at $545,000 after acquiring an additional 23,189 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Accuray during the 4th quarter valued at $160,000. Finally, Global X Management Co. LLC lifted its stake in Accuray by 65.6% during the 1st quarter. Global X Management Co. LLC now owns 1,469,766 shares of the medical equipment provider’s stock valued at $7,349,000 after acquiring an additional 582,479 shares in the last quarter. Institutional investors own 91.49% of the company’s stock.
Shares of ARAY stock opened at $3.87 on Tuesday. The company has a market cap of $331.85 million, a PE ratio of -13.82 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 announced its quarterly earnings data on Thursday, August 16th. The medical equipment provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $113.79 million during the quarter, compared to the consensus estimate of $108.45 million. Accuray had a negative net margin of 5.90% and a negative return on equity of 43.57%. During the same quarter last year, the firm posted ($0.04) EPS. sell-side analysts expect that Accuray will post -0.09 earnings per share for the current fiscal year.
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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