Accuray (NASDAQ:ARAY) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Accuray (NASDAQ:ARAY - Free Report) from a buy rating to a hold rating in a research report released on Wednesday.

Accuray Price Performance

ARAY stock traded down $0.01 during trading on Wednesday, hitting $1.57. 519,907 shares of the company's stock traded hands, compared to its average volume of 711,517. Accuray has a 52 week low of $1.28 and a 52 week high of $2.95. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. The business has a fifty day simple moving average of $1.60 and a 200 day simple moving average of $1.90. The stock has a market capitalization of $161.73 million, a price-to-earnings ratio of -31.40 and a beta of 1.30.

Accuray (NASDAQ:ARAY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. The business had revenue of $113.24 million during the quarter, compared to analyst estimates of $101.53 million. As a group, research analysts expect that Accuray will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Accuray

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Accuray by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider's stock worth $4,329,000 after acquiring an additional 6,758 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Accuray by 28.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 212,330 shares of the medical equipment provider's stock worth $420,000 after acquiring an additional 47,331 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Accuray by 6.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider's stock worth $5,900,000 after acquiring an additional 189,414 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Accuray in the 4th quarter worth about $43,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Accuray by 37.7% in the 4th quarter. Wells Fargo & Company MN now owns 260,071 shares of the medical equipment provider's stock worth $515,000 after acquiring an additional 71,198 shares during the last quarter. 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.