Accuray (NASDAQ:ARAY) Cut to Hold at 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 Saturday.

Accuray Price Performance

ARAY stock opened at $1.79 on Friday. The company has a market capitalization of $184.07 million, a P/E ratio of -35.80 and a beta of 1.46. The company has a fifty day moving average price of $2.08 and a 200-day moving average price of $1.98. 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 $1.40 and a 52-week high of $2.95.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. As a group, equities analysts expect that Accuray will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARAY. Ameriprise Financial Inc. acquired a new stake in shares of Accuray during the fourth quarter worth $35,000. Prudential Financial Inc. bought a new stake in Accuray during the fourth quarter valued at $43,000. Intech Investment Management LLC acquired a new stake in Accuray during the 3rd quarter worth about $41,000. ProShare Advisors LLC raised its position in shares of Accuray by 50.7% in the 4th quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock worth $54,000 after acquiring an additional 9,187 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Accuray in the 3rd quarter valued at about $57,000. Institutional investors own 64.08% of the company’s stock.

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.