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 research note published on Monday morning.

Accuray Price Performance

ARAY opened at $2.23 on Monday. The stock has a fifty day moving average of $2.13 and a 200-day moving average of $1.98. The firm has a market capitalization of $229.31 million, a P/E ratio of -44.60 and a beta of 1.51. Accuray has a 12-month low of $1.40 and a 12-month high of $2.95. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 3.51.

Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. Equities analysts forecast that Accuray will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Accuray

Several hedge funds have recently bought and sold shares of ARAY. Foundry Partners LLC grew its position in shares of 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 purchasing an additional 741,900 shares during the last quarter. Heartland Advisors Inc. grew its position in Accuray by 14.1% during the fourth quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider’s stock worth $7,573,000 after buying an additional 472,800 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Accuray during the third quarter worth about $418,000. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $500,000 after buying an additional 230,695 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Accuray by 143.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 384,944 shares of the medical equipment provider’s stock worth $693,000 after buying an additional 226,602 shares in the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.

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.