Accuray (NASDAQ:ARAY) Upgraded at StockNews.com

StockNews.com upgraded shares of Accuray (NASDAQ:ARAY) from a hold rating to a buy rating in a report issued on Tuesday morning.

Accuray Stock Down 4.2 %

ARAY opened at $1.83 on Tuesday. The stock’s 50 day moving average price is $2.17 and its 200 day moving average price is $2.03. 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 stock has a market cap of $188.18 million, a P/E ratio of -36.60 and a beta of 1.51. Accuray has a 12 month low of $1.40 and a 12 month high of $2.95.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 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%. As a group, research analysts predict that Accuray will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Foundry Partners LLC raised its holdings in 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 in the last quarter. Heartland Advisors Inc. increased its position in shares of Accuray by 14.1% during the 4th quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider’s stock valued at $7,573,000 after purchasing an additional 472,800 shares during the period. Mackenzie Financial Corp raised its stake in shares of Accuray by 1,123.1% in the 4th quarter. Mackenzie Financial Corp now owns 272,846 shares of the medical equipment provider’s stock worth $540,000 after buying an additional 250,539 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Accuray in the third quarter valued at $418,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Accuray by 489.1% during 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 buying an additional 230,695 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors.

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.