Accuray Incorporated (ARAY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Accuray Incorporated (NASDAQ:ARAY) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.50.

A number of brokerages have issued reports on ARAY. Aegis reissued a “buy” rating on shares of Accuray in a report on Tuesday, March 21st. Zacks Investment Research raised shares of Accuray from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a report on Tuesday, April 4th. BTIG Research reissued a “hold” rating on shares of Accuray in a report on Sunday, April 30th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $7.00 price target (down previously from $8.00) on shares of Accuray in a report on Saturday, April 29th.

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Large investors have recently made changes to their positions in the stock. RNC Capital Management LLC raised its stake in shares of Accuray by 5.0% in the first quarter. RNC Capital Management LLC now owns 27,500 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 1,300 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Accuray during the first quarter worth $141,000. Goldman Sachs Group Inc. raised its stake 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 buying an additional 16,223 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Accuray during the first quarter worth $154,000. Finally, PEAK6 Investments L.P. bought a new stake in shares of Accuray during the first quarter worth $193,000. 84.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Accuray (ARAY) opened at 4.45 on Tuesday. Accuray has a 1-year low of $3.85 and a 1-year high of $6.39. The company’s market cap is $369.35 million. The firm’s 50 day moving average is $4.16 and its 200-day moving average is $4.82.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.07. The firm had revenue of $97.31 million during the quarter, compared to the consensus estimate of $110.23 million. Accuray had a negative return on equity of 61.49% and a negative net margin of 8.61%. Accuray’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. Equities analysts expect that Accuray will post ($0.30) earnings per share for the current year.

About Accuray

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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