Accuray (NASDAQ:ARAY) Lowered to “Hold” Rating by StockNews.com

Accuray (NASDAQ:ARAY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Accuray Price Performance

Accuray stock opened at $2.23 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.87 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $229.31 million, a P/E ratio of -44.60 and a beta of 1.51. The business has a 50-day moving average of $2.14 and a 200-day moving average of $1.99. Accuray has a 1 year low of $1.40 and a 1 year high of $2.95.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Accuray will post 0.01 EPS for the current year.

Institutional Trading of Accuray

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its position in shares of Accuray by 1,087.7% during the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Accuray in the fourth quarter worth $35,000. Caprock Group LLC acquired a new position in Accuray during the third quarter worth $36,000. Intech Investment Management LLC bought a new position in Accuray in the third quarter valued at $41,000. Finally, Prudential Financial Inc. acquired a new stake in Accuray in the 4th quarter valued at $43,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.