Accuray (NASDAQ:ARAY) Raised to "Buy" at StockNews.com

Accuray (NASDAQ:ARAY - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

Accuray Price Performance

Shares of Accuray stock traded up $0.03 during midday trading on Tuesday, hitting $1.86. 499,297 shares of the company were exchanged, compared to its average volume of 760,284. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.02. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.62 and a quick ratio of 0.88. The firm has a market cap of $191.27 million, a P/E ratio of -37.20 and a beta of 1.46. Accuray has a 52 week low of $1.40 and a 52 week high of $2.95.

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, beating 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%. Research analysts forecast that Accuray will post 0.01 earnings per share for the current year.

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Institutional Trading of Accuray

Several hedge funds have recently modified their holdings of ARAY. Heartland Advisors Inc. boosted its holdings in shares of Accuray by 14.1% in the 4th quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider's stock worth $7,573,000 after acquiring an additional 472,800 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Accuray by 6.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider's stock worth $5,900,000 after purchasing an additional 189,414 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of Accuray by 51.3% during the third quarter. Foundry Partners LLC now owns 2,187,160 shares of the medical equipment provider's stock worth $3,937,000 after purchasing an additional 741,900 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Accuray by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider's stock valued at $4,329,000 after buying an additional 6,758 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Accuray by 3.8% in the third quarter. State Street Corp now owns 1,894,287 shares of the medical equipment provider's stock valued at $3,410,000 after buying an additional 70,008 shares during 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.