Shares of Accuray Inc. (NASDAQ:ARAY) rose 2.8% during trading on Wednesday . The company traded as high as $5.20 and last traded at $5.08, with a volume of 632,372 shares trading hands. The stock had previously closed at $4.94.

ARAY has been the subject of a number of research analyst reports. Zacks Investment Research raised Accuray from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research report on Wednesday, March 30th. Morgan Stanley reissued a “hold” rating on shares of Accuray in a report on Wednesday, April 27th. Finally, Brean Capital reissued a “buy” rating and set a $12.00 price objective on shares of Accuray in a report on Sunday, May 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.58.

The stock’s market capitalization is $411.90 million. The firm has a 50 day moving average price of $5.25 and a 200-day moving average price of $5.57.

Accuray (NASDAQ:ARAY) last posted its earnings results on Tuesday, April 26th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business earned $105.30 million during the quarter, compared to the consensus estimate of $102.79 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts predict that Accuray Inc. will post ($0.27) EPS for the current year.

Several hedge funds have bought and sold shares of ARAY. Boston Partners increased its stake in Accuray by 10.8% in the fourth quarter. Boston Partners now owns 4,272,040 shares of the company’s stock worth $28,836,000 after buying an additional 417,568 shares during the period. Neuberger Berman Group LLC increased its stake in Accuray by 16.0% in the fourth quarter. Neuberger Berman Group LLC now owns 2,800,295 shares of the company’s stock worth $18,902,000 after buying an additional 385,220 shares during the period. Wells Fargo & Company MN increased its stake in Accuray by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,656,069 shares of the company’s stock worth $11,178,000 after buying an additional 286,458 shares during the period. Russell Frank Co increased its stake in Accuray by 24.0% in the fourth quarter. Russell Frank Co now owns 1,028,628 shares of the company’s stock worth $7,077,000 after buying an additional 198,874 shares during the period. Finally, Lapides Asset Management LLC increased its stake in Accuray by 1.8% in the fourth quarter. Lapides Asset Management LLC now owns 2,149,500 shares of the company’s stock worth $14,509,000 after buying an additional 38,600 shares during the period.

Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.

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