Accuray (NASDAQ:ARAY) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Accuray (NASDAQ:ARAY - Free Report) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Accuray Price Performance

Shares of ARAY stock traded down $0.06 on Tuesday, reaching $2.11. The company's stock had a trading volume of 765,002 shares, compared to its average volume of 802,329. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95. The company has a market capitalization of $216.46 million, a P/E ratio of -42.10 and a beta of 1.51. The stock's 50 day simple moving average is $2.15 and its 200-day simple moving average is $2.00.

Accuray (NASDAQ:ARAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. As a group, equities analysts predict that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accuray

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Foundry Partners LLC increased its stake in Accuray by 51.3% in the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider's stock valued at $3,937,000 after acquiring an additional 741,900 shares during the last quarter. Heartland Advisors Inc. increased its stake in Accuray by 14.1% in the fourth quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider's stock valued at $7,573,000 after acquiring an additional 472,800 shares during the last quarter. Mackenzie Financial Corp increased its stake in Accuray by 1,123.1% in the fourth quarter. Mackenzie Financial Corp now owns 272,846 shares of the medical equipment provider's stock valued at $540,000 after acquiring an additional 250,539 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Accuray in the third quarter valued at $418,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Accuray by 489.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider's stock valued at $500,000 after acquiring an additional 230,695 shares during the last quarter. Hedge funds and other institutional investors own 64.08% of the company's stock.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.