Shares of Accuray Incorporated (NASDAQ:ARAY) have been assigned an average rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.75.

A number of research analysts have recently issued reports on the company. BidaskClub lowered Accuray from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Citigroup decreased their target price on Accuray from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Friday, August 17th. BTIG Research reiterated a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Zacks Investment Research upgraded Accuray from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $6.00 target price on shares of Accuray in a research report on Friday, August 17th.

In related news, CFO Shigeyuki Hamamatsu sold 8,762 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $4.48, for a total value of $39,253.76. Following the completion of the transaction, the chief financial officer now directly owns 116,238 shares of the company’s stock, valued at approximately $520,746.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joshua Levine sold 17,242 shares of the stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $4.38, for a total value of $75,519.96. Following the completion of the transaction, the chief executive officer now directly owns 1,387,162 shares of the company’s stock, valued at $6,075,769.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,790 shares of company stock valued at $122,775. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARAY. Schwab Charles Investment Management Inc. raised its stake in Accuray by 7.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 453,325 shares of the medical equipment provider’s stock valued at $2,267,000 after purchasing an additional 31,080 shares during the last quarter. Northern Trust Corp raised its stake in Accuray by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,027,899 shares of the medical equipment provider’s stock valued at $5,139,000 after purchasing an additional 25,184 shares during the last quarter. BlackRock Inc. raised its stake in Accuray by 10.0% in the 1st quarter. BlackRock Inc. now owns 8,090,671 shares of the medical equipment provider’s stock valued at $40,454,000 after purchasing an additional 737,107 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Accuray by 41.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,874,105 shares of the medical equipment provider’s stock valued at $9,371,000 after purchasing an additional 553,814 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Accuray in the 1st quarter valued at $107,000. 83.50% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:ARAY traded down $0.17 during midday trading on Wednesday, reaching $3.75. 1,238,822 shares of the company’s stock traded hands, compared to its average volume of 695,234. Accuray has a 1 year low of $3.20 and a 1 year high of $6.15. The firm has a market capitalization of $389.20 million, a price-to-earnings ratio of -13.38 and a beta of 1.70. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.68 and a quick ratio of 1.04.

Accuray (NASDAQ:ARAY) last announced its earnings results on Thursday, August 16th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Accuray had a negative return on equity of 43.31% and a negative net margin of 5.90%. The firm had revenue of $113.79 million for the quarter, compared to analyst estimates of $108.45 million. During the same quarter last year, the firm posted ($0.04) EPS. On average, sell-side analysts expect that Accuray will post -0.1 earnings per share for the current year.

About Accuray

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. 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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Analyst Recommendations for Accuray (NASDAQ:ARAY)

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