Accuray (ARAY) Shares Down 5.6%

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Accuray Incorporated (NASDAQ:ARAY)’s share price was down 5.6% during trading on Wednesday . The stock traded as low as $3.97 and last traded at $4.01. Approximately 659,932 shares traded hands during trading, a decline of 24% from the average daily volume of 873,972 shares. The stock had previously closed at $4.25.

ARAY has been the subject of several recent research reports. Zacks Investment Research lowered shares of Accuray from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. BidaskClub raised shares of Accuray from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.13.

The stock has a market capitalization of $370.85 million, a PE ratio of -14.32 and a beta of 2.07. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.00 and a current ratio of 1.71.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Tuesday, January 22nd. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. Accuray had a negative net margin of 5.74% and a negative return on equity of 42.74%. The company had revenue of $102.32 million during the quarter, compared to analyst estimates of $104.01 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, research analysts anticipate that Accuray Incorporated will post -0.16 earnings per share for the current fiscal year.

In other news, CEO Joshua Levine sold 6,604 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $4.54, for a total value of $29,982.16. Following the completion of the sale, the chief executive officer now owns 1,033,593 shares of the company’s stock, valued at $4,692,512.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in Accuray by 50.0% during the 4th quarter. Deutsche Bank AG now owns 538,614 shares of the medical equipment provider’s stock valued at $1,835,000 after purchasing an additional 179,559 shares in the last quarter. Geode Capital Management LLC grew its holdings in Accuray by 14.6% during the 4th quarter. Geode Capital Management LLC now owns 992,090 shares of the medical equipment provider’s stock valued at $3,382,000 after purchasing an additional 126,656 shares in the last quarter. Norges Bank acquired a new stake in Accuray during the 4th quarter valued at $3,287,000. Dimensional Fund Advisors LP grew its holdings in Accuray by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,321,330 shares of the medical equipment provider’s stock valued at $7,916,000 after purchasing an additional 78,330 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Accuray during the 4th quarter valued at $43,000. 80.24% of the stock is owned by institutional investors.

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Accuray Company Profile (NASDAQ:ARAY)

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.

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