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 issued to investors on Monday.

Accuray Price Performance

NASDAQ ARAY opened at $2.45 on Monday. Accuray has a 12 month low of $1.40 and a 12 month high of $2.95. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.87. The firm has a market capitalization of $251.93 million, a PE ratio of -49.00 and a beta of 1.51. The company’s 50 day simple moving average is $2.12 and its 200 day simple moving average is $1.98.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.02 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%. As a group, equities research analysts forecast that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Trading of Accuray

Large investors have recently added to or reduced their stakes in the business. Foundry Partners LLC boosted its stake in shares of Accuray by 51.3% during 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 buying an additional 741,900 shares during the period. State Street Corp raised its holdings in shares of Accuray by 3.8% during the 3rd quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider’s stock valued at $3,410,000 after purchasing an additional 70,008 shares in the last quarter. Barclays PLC raised its holdings in shares of Accuray by 97.9% during the 3rd quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock valued at $380,000 after purchasing an additional 104,310 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Accuray by 1,650.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 146,384 shares of the medical equipment provider’s stock valued at $263,000 after purchasing an additional 138,022 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Accuray by 489.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock valued at $500,000 after purchasing an additional 230,695 shares in the last quarter. 64.08% of the stock is currently owned by 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.