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

StockNews.com downgraded shares of Accuray (NASDAQ:ARAY) from a buy rating to a hold rating in a research note issued to investors on Monday.

Accuray Price Performance

Accuray stock opened at $1.37 on Monday. The stock’s 50 day moving average price is $1.66 and its two-hundred day moving average price is $1.92. The stock has a market capitalization of $140.36 million, a price-to-earnings ratio of -27.30 and a beta of 1.30. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. Accuray has a 52-week low of $1.28 and a 52-week high of $2.95.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $113.24 million during the quarter, compared to the consensus estimate of $101.53 million. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. On average, equities analysts predict that Accuray will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Accuray

A number of hedge funds have recently made changes to their positions in ARAY. Barclays PLC increased its holdings in shares of Accuray by 97.9% in the third quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock worth $380,000 after buying an additional 104,310 shares during the period. Geode Capital Management LLC increased its stake in Accuray by 0.3% in the 4th 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 during the period. Assenagon Asset Management S.A. lifted its position in Accuray by 28.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 212,330 shares of the medical equipment provider’s stock valued at $420,000 after purchasing an additional 47,331 shares during the last quarter. Jane Street Group LLC lifted its position in Accuray by 26.1% in the third quarter. Jane Street Group LLC now owns 161,653 shares of the medical equipment provider’s stock valued at $291,000 after purchasing an additional 33,417 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Accuray by 6.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider’s stock worth $5,900,000 after purchasing an additional 189,414 shares during the last quarter. 64.08% of the stock is currently owned by 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.