Accuray (ARAY) Cut to “Sell” at BidaskClub

Accuray (NASDAQ:ARAY) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, BidAskClub reports.

A number of other brokerages have also recently weighed in on ARAY. Zacks Investment Research cut shares of Accuray from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. BTIG Research reiterated a “hold” rating on shares of Accuray in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Accuray currently has a consensus rating of “Hold” and an average price target of $5.13.

Shares of NASDAQ:ARAY opened at $3.91 on Friday. The firm has a market cap of $342.84 million, a P/E ratio of -13.96 and a beta of 1.97. The company has a quick ratio of 1.03, a current ratio of 1.71 and a debt-to-equity ratio of 3.06. Accuray has a 1-year low of $3.16 and a 1-year high of $5.40.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, April 23rd. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $103.22 million during the quarter, compared to analysts’ expectations of $104.02 million. Accuray had a negative net margin of 3.85% and a negative return on equity of 25.91%. As a group, research analysts expect that Accuray will post -0.16 earnings per share for the current fiscal year.

In related 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 transaction of $29,982.16. Following the completion of the sale, the chief executive officer now owns 1,033,593 shares in the company, valued at approximately $4,692,512.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of ARAY. Macquarie Group Ltd. raised its position in Accuray by 46.7% during the 4th quarter. Macquarie Group Ltd. now owns 7,810 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 2,487 shares during the last quarter. Amalgamated Bank purchased a new position in Accuray during the 4th quarter worth $43,000. SG Americas Securities LLC purchased a new position in Accuray during the 1st quarter worth $49,000. Stone Ridge Asset Management LLC purchased a new position in Accuray during the 4th quarter worth $51,000. Finally, BNP Paribas Arbitrage SA raised its position in Accuray by 1,515.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 19,099 shares of the medical equipment provider’s stock worth $91,000 after buying an additional 17,917 shares during the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

About Accuray

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.

See Also: What is a Backdoor Roth IRA?

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.