Northland Securities initiated coverage on shares of Accuray (NASDAQ:ARAY) in a report published on Thursday, The Fly reports. The brokerage issued an outperform rating on the medical equipment provider’s stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Accuray from a hold rating to a buy rating and set a $4.00 price objective on the stock in a report on Wednesday, November 4th. BidaskClub raised shares of Accuray from a hold rating to a buy rating in a research note on Wednesday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Accuray currently has a consensus rating of Buy and an average price target of $7.00.
NASDAQ ARAY opened at $4.74 on Thursday. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.97 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $4.36 and its 200-day simple moving average is $3.02. The company has a market cap of $432.64 million, a PE ratio of 33.86 and a beta of 2.06. Accuray has a 1-year low of $1.33 and a 1-year high of $5.10.
In other Accuray news, SVP Suzanne C. Winter sold 23,740 shares of Accuray stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $3.02, for a total transaction of $71,694.80. Following the transaction, the senior vice president now directly owns 351,260 shares of the company’s stock, valued at $1,060,805.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shigeyuki Hamamatsu sold 10,653 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $3.02, for a total transaction of $32,172.06. Following the completion of the transaction, the chief financial officer now owns 166,350 shares in the company, valued at $502,377. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,626 shares of company stock valued at $170,153. 4.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co raised its position in Accuray by 18.6% in the fourth quarter. Diversified Trust Co now owns 23,643 shares of the medical equipment provider’s stock valued at $99,000 after purchasing an additional 3,700 shares during the period. AQR Capital Management LLC increased its position in shares of Accuray by 105.0% during the 3rd quarter. AQR Capital Management LLC now owns 192,849 shares of the medical equipment provider’s stock worth $463,000 after purchasing an additional 98,786 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Accuray by 217.8% in the 3rd quarter. Squarepoint Ops LLC now owns 257,321 shares of the medical equipment provider’s stock valued at $618,000 after buying an additional 176,353 shares during the period. Boothbay Fund Management LLC lifted its position in Accuray by 107.6% in the third quarter. Boothbay Fund Management LLC now owns 45,008 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 23,323 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Accuray during the third quarter worth about $106,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.
Accuray Company Profile
Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body in the Americas, Europe, the Middle East, India, Japan, Africa, and rest of the Asia Pacific region. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.
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