Accuray (NASDAQ:ARAY) Upgraded to Buy at StockNews.com

Accuray (NASDAQ:ARAY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Accuray Stock Up 5.2 %

Accuray stock opened at $1.83 on Friday. The stock has a market capitalization of $188.18 million, a PE ratio of -36.60 and a beta of 1.46. Accuray has a 12 month low of $1.40 and a 12 month high of $2.95. The business has a 50 day simple moving average of $2.15 and a 200-day simple moving average 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 (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 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%. On average, analysts anticipate that Accuray will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Accuray

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. boosted its stake in Accuray by 14.1% during the fourth quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider’s stock worth $7,573,000 after buying an additional 472,800 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Accuray by 6.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider’s stock valued at $5,900,000 after purchasing an additional 189,414 shares during the last quarter. Foundry Partners LLC lifted its stake in shares of Accuray by 51.3% in the 3rd quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider’s stock valued at $3,937,000 after purchasing an additional 741,900 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Accuray by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider’s stock valued at $4,329,000 after purchasing an additional 6,758 shares during the last quarter. Finally, State Street Corp lifted its stake in Accuray by 3.8% during the 3rd quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock worth $3,410,000 after acquiring an additional 70,008 shares in the last quarter. Institutional investors and hedge funds 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.