BTIG Research lifts Accuray Incorporated [ARAY] price estimate. Who else is bullish?

Accuray Incorporated [NASDAQ: ARAY] stock went on an upward path that rose over 22.87% on Monday, amounting to a one-week price increase of more than 18.61%. The company report on July 22, 2020 that Anne B. Le Grand Joins Accuray Board of Directors.

Accuray Incorporated (NASDAQ: ARAY) announced today the appointment of Anne B. Le Grand to the company’s Board of Directors, effective as of July 16, 2020. In addition, she will serve on the Board’s Nominating and Corporate Governance Committee. With Ms. Le Grand’s appointment, the Accuray Board will consist of nine members.

Ms. Le Grand is an experienced healthcare executive with over 25 years of experience in the global healthcare technology industry. She brings invaluable expertise leading the development and commercialization of medical imaging technology, one of the most important areas of focus in the radiation oncology arena. Since 2016, Ms. Le Grand has served as Vice President IBM and General Manager Watson Health Imaging. Prior to joining IBM, Ms. Le Grand held multiple senior level leadership positions at Philips Health Systems, including most recently, Senior Vice President Healthcare and General Manager, Therapeutic Care. Previous to her tenure at Philips, Ms. Le Grand served as Senior Vice President Healthcare and General Manager Global X-ray for General Electric Healthcare, where she successfully launched refreshed portfolios across General Electric Healthcare’s global x-ray, mammography and lunar businesses.

Over the last 12 months, ARAY stock dropped by -29.38%. The average equity rating for ARAY stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $252.49 million, with 90.48 million shares outstanding and 86.76 million shares in the current float. Compared to the average trading volume of 589.45K shares, ARAY stock reached a trading volume of 2236403 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Accuray Incorporated [ARAY]:

BTIG Research have made an estimate for Accuray Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 21, 2020. The new note on the price target was released on November 01, 2018, representing the official price target for Accuray Incorporated stock.

The Average True Range (ATR) for Accuray Incorporated is set at 0.14, with the Price to Sales ratio for ARAY stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 4.15, with the Price to Cash per share for the same quarter was set at 0.97.

ARAY Stock Performance Analysis:

Accuray Incorporated [ARAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.61. With this latest performance, ARAY shares gained by 26.27% in over the last four-week period, additionally sinking by -26.93% over the last 6 months – not to mention a drop of -29.38% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARAY stock in for the last two-week period is set at 69.64, with the RSI for the last a single of trading hit 77.12, and the three-weeks RSI is set at 65.82 for Accuray Incorporated [ARAY]. The present Moving Average for the last 50 days of trading for this stock 2.23, while it was recorded at 2.34 for the last single week of trading, and 2.53 for the last 200 days.

Insight into Accuray Incorporated Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Accuray Incorporated [ARAY] shares currently have an operating margin of +0.50 and a Gross Margin at +38.84. Accuray Incorporated’s Net Margin is presently recorded at -3.92.

Return on Total Capital for ARAY is now 1.07, given the latest momentum, and Return on Invested Capital for the company is -8.44. Return on Equity for this stock declined to -33.36, with Return on Assets sitting at -4.02. When it comes to the capital structure of this company, Accuray Incorporated [ARAY] has a Total Debt to Total Equity ratio set at 320.51. Additionally, ARAY Total Debt to Total Capital is recorded at 76.22, with Total Debt to Total Assets ending up at 36.48. Long-Term Debt to Equity for the company is recorded at 320.51, with the Long-Term Debt to Total Capital now at 76.22.

Reflecting on the efficiency of the workforce at the company, Accuray Incorporated [ARAY] managed to generate an average of -$17,350 per employee. Receivables Turnover for the company is 4.71 with a Total Asset Turnover recorded at a value of 1.03.Accuray Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.00.

ARAY Stock EPS

With the latest financial reports released by the company, Accuray Incorporated posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -300.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARAY.

Accuray Incorporated [ARAY] Insider Position Details

There are presently around $179 million, or 73.20% of ARAY stock, in the hands of institutional investors. The top three institutional holders of ARAY stocks are: BLACKROCK INC. with ownership of 6,394,304, which is approximately -7.943% of the company’s market cap and around 0.10% of the total institutional ownership; NEUBERGER BERMAN GROUP LLC, holding 5,825,929 shares of the stock with an approximate value of $15.96 million in ARAY stocks shares; and VANGUARD GROUP INC, currently with $13.05 million in ARAY stock with ownership of nearly -0.485% of the company’s market capitalization.

Positions in Accuray Incorporated stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 48 institutional holders increased their position in Accuray Incorporated [NASDAQ:ARAY] by around 3,877,777 shares. Additionally, 66 investors decreased positions by around 6,265,216 shares, while 24 investors held positions by with 55,202,201 shares. The mentioned changes placed institutional holdings at 65,345,194 shares, according to the latest SEC report filing. ARAY stock had 15 new institutional investments in for a total of 1,270,105 shares, while 23 institutional investors sold positions of 1,518,501 shares during the same period.

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