Accuray’s (ARAY) “Neutral” Rating Reaffirmed at BTIG Research

Accuray (NASDAQ:ARAY)‘s stock had its “neutral” rating reiterated by BTIG Research in a research report issued on Wednesday,Benzinga reports.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of Accuray from a “buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded Accuray from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $2.00.

Accuray Price Performance

ARAY opened at $0.25 on Wednesday. The firm has a market cap of $29.63 million, a PE ratio of -0.67 and a beta of 1.39. The stock has a 50-day moving average price of $0.34 and a 200-day moving average price of $0.51. Accuray has a 1 year low of $0.25 and a 1 year high of $2.10. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.42 and a quick ratio of 0.66.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, May 6th. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The firm had revenue of $104.85 million for the quarter, compared to the consensus estimate of $111.90 million. Accuray had a negative net margin of 10.76% and a negative return on equity of 79.43%.

Hedge Funds Weigh In On Accuray

Hedge funds and other institutional investors have recently modified their holdings of the company. TCW Group Inc. grew its holdings in shares of Accuray by 29.9% in the fourth quarter. TCW Group Inc. now owns 15,467,952 shares of the medical equipment provider’s stock worth $12,684,000 after acquiring an additional 3,558,595 shares during the period. Vanguard Group Inc. lifted its holdings in Accuray by 2.0% in the third quarter. Vanguard Group Inc. now owns 5,476,677 shares of the medical equipment provider’s stock valued at $9,146,000 after acquiring an additional 106,087 shares during the period. Weber Capital Management LLC ADV purchased a new position in Accuray in the fourth quarter worth about $4,169,000. Armistice Capital LLC grew its stake in shares of Accuray by 35.4% during the 4th quarter. Armistice Capital LLC now owns 4,500,000 shares of the medical equipment provider’s stock valued at $3,711,000 after purchasing an additional 1,176,000 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Accuray by 7.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,421,724 shares of the medical equipment provider’s stock valued at $3,318,000 after purchasing an additional 174,703 shares during the last quarter. 64.08% of the stock is owned by institutional investors.

Accuray Company Profile

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.