Jefferies Group LLC restated their buy rating on shares of Accuray Incorporated (NASDAQ:ARAY) in a research report report published on Saturday, April 29th. They currently have a $7.00 target price on the medical equipment provider’s stock, down from their prior target price of $8.00.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Accuray from a hold rating to a buy rating and set a $5.25 price objective for the company in a research report on Tuesday, April 4th. Aegis reaffirmed a buy rating on shares of Accuray in a research report on Tuesday, March 21st. Finally, BTIG Research reaffirmed a hold rating on shares of Accuray in a research report on Sunday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Accuray currently has a consensus rating of Hold and an average price target of $7.75.
Accuray (NASDAQ:ARAY) traded up 1.2633% during mid-day trading on Friday, hitting $3.9999. 143,782 shares of the stock were exchanged. Accuray has a 52-week low of $3.95 and a 52-week high of $6.39. The stock’s 50 day moving average is $4.49 and its 200 day moving average is $4.96. The stock’s market cap is $331.99 million.
Accuray (NASDAQ:ARAY) last posted its earnings results on Thursday, April 27th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.07. The business had revenue of $97.31 million for the quarter, compared to analyst estimates of $110.23 million. Accuray had a negative return on equity of 46.38% and a negative net margin of 6.88%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. Analysts forecast that Accuray will post ($0.30) EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in ARAY. Vanguard Group Inc. boosted its position in shares of Accuray by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,447,130 shares of the medical equipment provider’s stock valued at $30,623,000 after buying an additional 286,011 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Accuray by 26.7% in the first quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock valued at $23,821,000 after buying an additional 1,057,654 shares during the period. Renaissance Technologies LLC boosted its stake in Accuray by 2.3% in the first quarter. Renaissance Technologies LLC now owns 4,305,600 shares of the medical equipment provider’s stock worth $20,452,000 after buying an additional 98,100 shares during the last quarter. Heartland Advisors Inc. boosted its stake in Accuray by 23.4% in the third quarter. Heartland Advisors Inc. now owns 3,672,510 shares of the medical equipment provider’s stock worth $23,394,000 after buying an additional 697,473 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in Accuray during the third quarter worth about $15,148,000. Hedge funds and other institutional investors own 91.66% 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.
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