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

StockNews.com upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a research note published on Saturday morning.

Accuray Trading Up 5.2 %

Shares of Accuray stock opened at $1.83 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 3.51. The stock has a fifty day simple moving average of $2.15 and a 200 day simple moving average of $2.00. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95. The company has a market capitalization of $188.18 million, a P/E ratio of -36.60 and a beta of 1.46.

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

Institutional Trading of Accuray

A number of institutional investors and hedge funds have recently modified their holdings of ARAY. Gabelli Funds LLC grew its stake in Accuray by 12.5% in the 4th quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider’s stock valued at $89,000 after purchasing an additional 5,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Accuray by 2.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 283,280 shares of the medical equipment provider’s stock worth $561,000 after buying an additional 5,421 shares during the last quarter. Geode Capital Management LLC grew its position in Accuray by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider’s stock valued at $4,329,000 after buying an additional 6,758 shares during the period. Northern Trust Corp increased its holdings in Accuray by 0.9% during the fourth quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider’s stock worth $1,603,000 after buying an additional 7,399 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Accuray by 50.7% in the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock valued at $54,000 after acquiring an additional 9,187 shares during the last quarter. 64.08% of the stock is owned by hedge funds and other institutional investors.

About Accuray

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.