Jefferies Group Reaffirms “Buy” Rating for Accuray Inc. (ARAY)
Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Accuray from a hold rating to a buy rating and set a $5.50 target price for the company in a research report on Tuesday, November 1st. Cowen and Company assumed coverage on Accuray in a research report on Tuesday, September 13th. They set an outperform rating and a $9.00 target price for the company. Finally, Morgan Stanley set a $8.00 target price on Accuray and gave the company a hold rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $8.33.
Accuray (NASDAQ:ARAY) traded up 1.08% on Monday, reaching $4.70. The company had a trading volume of 22,797 shares. The stock’s market capitalization is $383.96 million. The stock’s 50-day moving average price is $5.51 and its 200-day moving average price is $5.39. Accuray has a 12-month low of $4.55 and a 12-month high of $7.25.
Accuray (NASDAQ:ARAY) last announced its earnings results on Thursday, October 27th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.02. Accuray had a negative net margin of 5.66% and a negative return on equity of 37.94%. The business had revenue of $86.50 million for the quarter, compared to analysts’ expectations of $37.34 million. During the same period in the prior year, the business earned ($0.12) earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Accuray will post ($0.19) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Peregrine Capital Management LLC purchased a new position in Accuray during the third quarter valued at $15,148,000. Emerald Acquisition Ltd. purchased a new position in Accuray during the second quarter valued at $6,467,000. Neuberger Berman Group LLC increased its position in Accuray by 25.3% in the third quarter. Neuberger Berman Group LLC now owns 4,173,052 shares of the company’s stock valued at $26,582,000 after buying an additional 842,912 shares during the last quarter. Heartland Advisors Inc. increased its position in Accuray by 23.4% in the third quarter. Heartland Advisors Inc. now owns 3,672,510 shares of the company’s stock valued at $23,394,000 after buying an additional 697,473 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Accuray by 22.2% in the first quarter. Renaissance Technologies LLC now owns 2,781,400 shares of the company’s stock valued at $16,076,000 after buying an additional 505,877 shares during the last quarter. Institutional investors own 92.49% of the company’s stock.
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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