Accuray (NASDAQ:ARAY) Upgraded by Wall Street Zen to Buy Rating

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

Accuray Trading Up 1.3%

Shares of NASDAQ ARAY traded up $0.02 during mid-day trading on Friday, hitting $1.55. The company's stock had a trading volume of 959,049 shares, compared to its average volume of 676,144. Accuray has a one year low of $1.28 and a one year high of $2.95. The company's fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.89. 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 $159.67 million, a price-to-earnings ratio of -31.00 and a beta of 1.30.

Accuray (NASDAQ:ARAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The business had revenue of $113.24 million during the quarter, compared to analysts' expectations of $101.53 million. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. On average, sell-side analysts anticipate that Accuray will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accuray

Hedge funds have recently bought and sold shares of the company. Gabelli Funds LLC grew its holdings in shares of Accuray by 12.5% in the 4th quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider's stock valued at $89,000 after buying an additional 5,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Accuray by 2.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 283,280 shares of the medical equipment provider's stock valued at $561,000 after acquiring an additional 5,421 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $4,329,000 after acquiring an additional 6,758 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Accuray by 0.9% in the fourth quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider's stock worth $1,603,000 after acquiring an additional 7,399 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Accuray by 50.7% during the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider's stock worth $54,000 after purchasing an additional 9,187 shares during the period. 64.08% of the stock is currently owned by institutional investors and hedge funds.

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.