Stock News in Focus: Accuray Incorporated (NASDAQ: ARAY)

Accuray Incorporated (NASDAQ: ARAY) stock identified change of 28.94% away from 52-week low price and recently located move of -43.89% off 52-week high price. It has market worth of $267.25M . ARAY stock has been recorded -10.28% away from 50 day moving average and -24.19% away from 200 day moving average. Moving closer, we can see that shares have been trading 8.97% off 20-day moving average.

Accuray Incorporated (NASDAQ: ARAY) strengthened its Board of Directors with the appointment of James (Jim) M. Hindman, effective as of September 6, 2019, and expanding the company’s Board to nine members. Mr. Hindman, an experienced healthcare executive with a 30-year tenure at Allergan, Inc., is an accomplished financial executive with expertise in maximizing shareholder value. He brings significant experience in improving corporate profitability and cash flow. Mr. Hindman will serve on the Board’s Audit Committee.

Most recently, Mr. Hindman served as executive vice president, finance and business development, and chief financial officer, at Allergan. Through his guidance, Allergan achieved its most robust financial performance in its 64-year history. Mr. Hindman’s previous leadership positions at Allergan include senior vice president, treasurer, risk and investor relations, and senior vice president, finance and controller. He currently serves on the Boards of publicly-traded Sienna Biopharmaceuticals and Millendo Therapeutics.

“Jim’s appointment to the Board supports Accuray’s continued focus on achieving sustained financial growth,” said Joshua H. Levine, President and Chief Executive Officer of Accuray. “We have confidence we are well-positioned from a product portfolio perspective to meet the needs of the radiation therapy market. When combined with the establishment of our China joint venture, we believe these two dynamics represent a real inflection point for the company. Jim’s proven track record, financial acumen and business expertise will be invaluable during this pivotal point in Accuray’s business.”

“I am pleased to join the Accuray Board during such an exciting time for the company,” said Mr. Hindman. “The recent establishment of the China joint venture improves the company’s long-term business prospects in China and demonstrates its commitment to sustainable growth and expanding access to its precise radiation therapy systems. I look forward to working with Josh, the other Directors and senior executive team to achieve our long-term business objectives.”

The Healthcare sector company, Accuray Incorporated noticed change of -0.33% to $3.03 along volume of 551543 shares in recent session compared to an average volume of 601.35K. The stock observed return of 7.45% in 5 days trading activity. The stock was at -9.55% over one month performance. ARAY’s shares are at -18.33% for the quarter and driving a -20.78% return over the course of the past year and is now at -11.14% since this point in 2018.

The average volatility for the week at 6.50% and for month was at 6.49%. There are 88.2M shares outstanding and 85.93M shares are floated in market. Right now the stock beta is 1.94.

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