Accuray (NASDAQ:ARAY) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Accuray (NASDAQ:ARAY – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Other analysts have also recently issued research reports about the stock. B. Riley assumed coverage on shares of Accuray in a research report on Thursday. They set a buy rating and a $7.50 price objective on the stock. TheStreet cut shares of Accuray from a c- rating to a d rating in a research report on Thursday, April 28th.

NASDAQ ARAY opened at $2.14 on Thursday. Accuray has a 1 year low of $1.70 and a 1 year high of $5.93. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.72 and a quick ratio of 1.04. The stock has a market capitalization of $198.60 million, a PE ratio of -15.28 and a beta of 1.94. The company’s 50 day simple moving average is $2.39 and its two-hundred day simple moving average is $3.38.

Accuray (NASDAQ:ARAY – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.05. The firm had revenue of $96.17 million for the quarter, compared to analysts’ expectations of $99.50 million. Accuray had a negative net margin of 3.01% and a negative return on equity of 5.68%. On average, research analysts anticipate that Accuray will post -0.09 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP grew its holdings in shares of Accuray by 20.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,020,786 shares of the medical equipment provider’s stock valued at $4,032,000 after purchasing an additional 173,804 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in Accuray in the 3rd quarter worth $87,000. BNP Paribas Arbitrage SA grew its holdings in Accuray by 430.8% in the 4th quarter. BNP Paribas Arbitrage SA now owns 714,092 shares of the medical equipment provider’s stock worth $3,406,000 after acquiring an additional 579,561 shares during the last quarter. Royce & Associates LP grew its holdings in Accuray by 9.3% in the 4th quarter. Royce & Associates LP now owns 1,922,865 shares of the medical equipment provider’s stock worth $9,172,000 after acquiring an additional 163,185 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Accuray by 8.4% in the 3rd quarter. Two Sigma Advisers LP now owns 1,026,613 shares of the medical equipment provider’s stock worth $4,055,000 after acquiring an additional 79,300 shares during the last quarter. 80.80% of the stock is currently owned by institutional investors.

About Accuray (Get Rating)

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the Americas, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It 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, such as prostate, lung, brain, spine, liver, pancreas, and kidney.

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