Accuray (NASDAQ:ARAY) Upgraded at StockNews.com

StockNews.com upgraded shares of Accuray (NASDAQ:ARAYFree Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Accuray Trading Up 2.2 %

Shares of Accuray stock opened at $1.87 on Friday. The stock has a market cap of $192.29 million, a PE ratio of -37.40 and a beta of 1.46. The firm has a fifty day moving average price of $2.15 and a 200 day moving average price of $2.00. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.88. Accuray has a 1 year low of $1.40 and a 1 year high of $2.95.

Accuray (NASDAQ:ARAYGet Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share for the quarter, beating 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%. Equities research analysts predict that Accuray will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Accuray

Several hedge funds have recently modified their holdings of ARAY. Mackenzie Financial Corp raised its holdings in Accuray by 1,123.1% in the 4th quarter. Mackenzie Financial Corp now owns 272,846 shares of the medical equipment provider’s stock worth $540,000 after purchasing an additional 250,539 shares during the period. Squarepoint Ops LLC raised its stake in shares of Accuray by 36.0% during the 4th quarter. Squarepoint Ops LLC now owns 61,804 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 16,368 shares during the period. Two Sigma Investments LP purchased a new position in shares of Accuray during the 4th quarter valued at approximately $144,000. Two Sigma Advisers LP grew its stake in Accuray by 41.9% in the 4th quarter. Two Sigma Advisers LP now owns 70,513 shares of the medical equipment provider’s stock valued at $140,000 after acquiring an additional 20,813 shares during the period. Finally, State of Wyoming grew its stake in Accuray by 102.6% in the 4th quarter. State of Wyoming now owns 99,679 shares of the medical equipment provider’s stock valued at $197,000 after acquiring an additional 50,485 shares during the period. 64.08% of the stock is owned by hedge funds and other institutional investors.

Accuray Company Profile

(Get Free Report)

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.

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