Accuray’s (ARAY) Buy Rating Reaffirmed at Cowen and Company

Cowen and Company reissued their buy rating on shares of Accuray Incorporated (NASDAQ:ARAY) in a research report released on Friday, October 27th. Cowen and Company currently has a $9.00 price target on the medical equipment provider’s stock.

A number of other analysts have also commented on ARAY. Jefferies Group LLC reissued a buy rating and set a $7.00 price objective on shares of Accuray in a report on Friday, June 30th. Zacks Investment Research upgraded Accuray from a strong sell rating to a hold rating in a research note on Monday, July 17th. BidaskClub downgraded Accuray from a hold rating to a sell rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a hold rating and issued a $5.00 target price on shares of Accuray in a research note on Thursday, August 24th. Finally, BTIG Research restated a hold rating on shares of Accuray in a research note on Thursday, August 24th. One equities 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. The company presently has an average rating of Hold and a consensus price target of $6.29.

Accuray (NASDAQ:ARAY) opened at $4.50 on Friday. Accuray has a twelve month low of $3.60 and a twelve month high of $6.00. The company has a quick ratio of 0.92, a current ratio of 1.48 and a debt-to-equity ratio of 2.44.

Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The business had revenue of $91.00 million during the quarter, compared to analyst estimates of $88.26 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. analysts predict that Accuray will post -0.18 earnings per share for the current year.

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In other Accuray news, COO Kelly Londy sold 99,136 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $4.24, for a total transaction of $420,336.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.90% of the company’s stock.

Large investors have recently bought and sold shares of the business. Aperio Group LLC bought a new position in shares of Accuray in the third quarter worth $111,000. Goldman Sachs Group Inc. increased its holdings in shares of Accuray by 116.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock worth $143,000 after purchasing an additional 16,223 shares during the period. Bank of Nova Scotia bought a new position in shares of Accuray in the second quarter worth $168,000. AHL Partners LLP increased its holdings in shares of Accuray by 28.4% in the second quarter. AHL Partners LLP now owns 39,823 shares of the medical equipment provider’s stock worth $189,000 after purchasing an additional 8,817 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Accuray in the third quarter worth $191,000. Hedge funds and other institutional investors own 75.47% of the company’s stock.

Accuray Company Profile

Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.

Analyst Recommendations for Accuray (NASDAQ:ARAY)

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