Brokerages Set Accuray Incorporated (ARAY) PT at $6.75

Share on StockTwits

Accuray Incorporated (NASDAQ:ARAY) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.75.

A number of equities analysts recently commented on ARAY shares. BidaskClub cut Accuray from a “hold” rating to a “sell” rating in a report on Saturday, June 23rd. Zacks Investment Research upgraded Accuray from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Citigroup lowered their target price on Accuray from $4.00 to $3.50 and set a “sell” rating for the company in a report on Friday, August 17th. Jefferies Financial Group restated a “buy” rating and set a $6.00 target price on shares of Accuray in a report on Friday, August 17th. Finally, BTIG Research restated a “hold” rating on shares of Accuray in a report on Wednesday, August 22nd.

Shares of NASDAQ ARAY traded down $0.17 during mid-day trading on Wednesday, reaching $3.75. 1,238,822 shares of the company’s stock were exchanged, compared to its average volume of 695,234. The stock has a market cap of $389.20 million, a PE ratio of -13.38 and a beta of 1.70. The company has a current ratio of 1.68, a quick ratio of 1.04 and a debt-to-equity ratio of 2.70. Accuray has a 52-week low of $3.20 and a 52-week high of $6.15.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Thursday, August 16th. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $113.79 million during the quarter, compared to analysts’ expectations of $108.45 million. Accuray had a negative return on equity of 43.31% and a negative net margin of 5.90%. During the same period in the prior year, the business posted ($0.04) EPS. Research analysts predict that Accuray will post -0.1 EPS for the current year.

In other news, CFO Shigeyuki Hamamatsu sold 8,762 shares of Accuray stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $4.48, for a total value of $39,253.76. Following the completion of the transaction, the chief financial officer now owns 116,238 shares in the company, valued at approximately $520,746.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joshua Levine sold 17,242 shares of Accuray stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $4.38, for a total value of $75,519.96. Following the completion of the transaction, the chief executive officer now owns 1,387,162 shares of the company’s stock, valued at approximately $6,075,769.56. The disclosure for this sale can be found here. Insiders have sold a total of 27,790 shares of company stock valued at $122,775 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. purchased a new position in shares of Accuray in the 1st quarter valued at about $107,000. First Trust Advisors LP boosted its stake in shares of Accuray by 113.1% in the 2nd quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after buying an additional 14,508 shares during the period. KBC Group NV purchased a new position in shares of Accuray in the 2nd quarter valued at about $112,000. Element Capital Management LLC purchased a new position in shares of Accuray in the 1st quarter valued at about $141,000. Finally, Redmile Group LLC purchased a new position in shares of Accuray in the 1st quarter valued at about $145,000. Institutional investors and hedge funds own 83.50% of the company’s stock.

Accuray Company Profile

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.

Further Reading: Trading Penny Stocks

Analyst Recommendations for Accuray (NASDAQ:ARAY)

Receive News & Ratings for Accuray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accuray and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply