Accuray Inc. (NASDAQ:ARAY)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a research report issued on Tuesday.
A number of other research firms have also recently weighed in on ARAY. Cowen and Company started coverage on shares of Accuray in a research report on Tuesday, September 13th. They set an “outperform” rating and a $9.00 price objective for the company. Morgan Stanley set a $8.00 price objective on shares of Accuray and gave the stock a “hold” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Accuray currently has a consensus rating of “Hold” and an average price target of $8.55.
Accuray (NASDAQ:ARAY) opened at 5.53 on Tuesday. Accuray has a 12-month low of $4.75 and a 12-month high of $7.54. The firm has a 50-day moving average of $5.46 and a 200 day moving average of $5.44. The stock’s market capitalization is $451.10 million.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings data on Wednesday, August 17th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.02. The company had revenue of $95 million for the quarter, compared to analysts’ expectations of $98.97 million. Accuray had a negative return on equity of 35.82% and a negative net margin of 5.55%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. On average, analysts predict that Accuray will post ($0.17) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in ARAY. Spark Investment Management LLC purchased a new stake in shares of Accuray during the first quarter worth $924,000. Kennedy Capital Management Inc. raised its stake in shares of Accuray by 3.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $6,614,000 after buying an additional 35,856 shares during the last quarter. Alambic Investment Management L.P. raised its stake in shares of Accuray by 52.4% in the second quarter. Alambic Investment Management L.P. now owns 216,310 shares of the company’s stock worth $1,123,000 after buying an additional 74,340 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Accuray during the first quarter worth $1,242,000. Finally, Heartland Advisors Inc. raised its stake in shares of Accuray by 8.5% in the second quarter. Heartland Advisors Inc. now owns 2,975,037 shares of the company’s stock worth $15,440,000 after buying an additional 232,710 shares during the last quarter. Institutional investors own 92.55% of the company’s stock.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.
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