Accuray (NASDAQ:ARAY) Rating Lowered to "Hold" at StockNews.com

Accuray (NASDAQ:ARAY - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

Accuray Price Performance

Shares of NASDAQ:ARAY traded down $0.01 during trading on Friday, hitting $1.74. 281,868 shares of the stock were exchanged, compared to its average volume of 661,472. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.63 and a quick ratio of 0.87. Accuray has a 1-year low of $1.40 and a 1-year high of $3.05. The company's fifty day simple moving average is $1.87 and its 200-day simple moving average is $1.83.

Accuray (NASDAQ:ARAY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. The firm had revenue of $101.55 million for the quarter, compared to analyst estimates of $98.10 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. Analysts forecast that Accuray will post 0.01 earnings per share for the current year.

Institutional Trading of Accuray

Several institutional investors have recently bought and sold shares of ARAY. The Manufacturers Life Insurance Company increased its stake in shares of Accuray by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider's stock valued at $82,000 after buying an additional 5,273 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Accuray by 9.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider's stock worth $181,000 after acquiring an additional 6,583 shares in the last quarter. Renaissance Technologies LLC lifted its position in Accuray by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider's stock valued at $5,118,000 after acquiring an additional 7,500 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Accuray by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider's stock worth $509,000 after purchasing an additional 8,864 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Accuray by 253,483.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 15,209 shares in the last quarter. Institutional investors and hedge funds own 64.08% of the company's stock.

About Accuray

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.