Accuray Incorporated (NASDAQ:ARAY) Director Joseph E. Whitters Buys 12,500 Shares

Accuray Incorporated (NASDAQ:ARAY) Director Joseph E. Whitters purchased 12,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $2.62 per share, with a total value of $32,750.00. Following the completion of the purchase, the director now directly owns 116,780 shares of the company’s stock, valued at $305,963.60. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ ARAY traded up $0.16 on Friday, hitting $2.82. The company had a trading volume of 502,531 shares, compared to its average volume of 721,894. Accuray Incorporated has a 12-month low of $2.35 and a 12-month high of $5.40. The business has a 50 day moving average of $3.32 and a two-hundred day moving average of $4.00. The company has a quick ratio of 1.03, a current ratio of 1.79 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $236.15 million, a P/E ratio of -18.80 and a beta of 1.96.

Accuray (NASDAQ:ARAY) last issued its earnings results on Thursday, August 15th. The medical equipment provider reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). Accuray had a negative return on equity of 26.69% and a negative net margin of 3.92%. The company had revenue of $117.42 million during the quarter, compared to analysts’ expectations of $116.09 million. During the same period in the previous year, the company earned ($0.01) EPS. On average, sell-side analysts anticipate that Accuray Incorporated will post -0.14 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ARAY. Russell Investments Group Ltd. boosted its position in shares of Accuray by 80.4% in the second quarter. Russell Investments Group Ltd. now owns 2,269,283 shares of the medical equipment provider’s stock worth $8,783,000 after buying an additional 1,011,363 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Accuray in the second quarter worth about $2,785,000. Acadian Asset Management LLC boosted its position in shares of Accuray by 429.2% in the first quarter. Acadian Asset Management LLC now owns 746,860 shares of the medical equipment provider’s stock worth $3,562,000 after buying an additional 605,743 shares during the period. Cadence Capital Management LLC purchased a new stake in shares of Accuray in the first quarter worth about $2,307,000. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Accuray by 16.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,755,925 shares of the medical equipment provider’s stock worth $10,665,000 after buying an additional 384,714 shares during the period. 81.23% of the stock is owned by institutional investors.

Several equities research analysts have commented on ARAY shares. Royal Bank of Canada set a $4.00 price target on Accuray and gave the stock a “hold” rating in a research note on Friday, August 16th. BidaskClub lowered Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, Accuray currently has a consensus rating of “Hold” and a consensus target price of $4.47.

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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