Accuray Incorporated (NASDAQ:ARAY) Given Average Recommendation of “Hold” by Brokerages
Shares of Accuray Incorporated (NASDAQ:ARAY) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.50.
A number of research firms have commented on ARAY. Jefferies Group LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Accuray in a report on Friday, June 30th. Zacks Investment Research cut shares of Accuray from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Sunday, April 30th. Finally, Aegis reissued a “buy” rating on shares of Accuray in a research report on Tuesday, March 21st.
A number of large investors have recently bought and sold shares of ARAY. Neuberger Berman Group LLC raised its stake in shares of Accuray by 26.7% in the first quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock valued at $23,821,000 after buying an additional 1,057,654 shares during the last quarter. State Street Corp raised its stake in shares of Accuray by 8.0% in the fourth quarter. State Street Corp now owns 1,672,081 shares of the medical equipment provider’s stock valued at $7,702,000 after buying an additional 124,566 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Accuray by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 672,494 shares of the medical equipment provider’s stock valued at $3,093,000 after buying an additional 25,075 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Accuray during the first quarter valued at about $472,000. Finally, Acadian Asset Management LLC raised its stake in shares of Accuray by 14.2% in the first quarter. Acadian Asset Management LLC now owns 47,765 shares of the medical equipment provider’s stock valued at $227,000 after buying an additional 5,926 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.
Accuray (ARAY) opened at 4.80 on Monday. The company’s market capitalization is $398.40 million. The stock’s 50 day moving average price is $4.25 and its 200 day moving average price is $4.80. Accuray has a 12-month low of $3.85 and a 12-month high of $6.39.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The firm had revenue of $97.31 million for the quarter, compared to analyst estimates of $110.23 million. Accuray had a negative return on equity of 61.49% and a negative net margin of 8.61%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. On average, equities research analysts anticipate that Accuray will post ($0.30) earnings per share for the current fiscal year.
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Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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