5 Best Medical Stocks Under $10

1. Accuray Incorporated (NASDAQ: ARAY)

Number of Hedge Fund Holders: 17
Stock Price as of July 23rd: $4.19

Topping the 10 best medical stocks under $10 is medical device manufacturer Accuray Incorporated (NASDAQ: ARAY). The California-based medical device firm sells radiation therapy instruments that treat intracranial, breast, prostate, lung, and head and neck tumors.

Northland analyst Jason Wittes started coverage of Accuray Incorporated (NASDAQ: ARAY) with an Outperform rating and a $7 per share price target in January, highlighting the company’s efficient R&D effort. Accuray Incorporated (NASDAQ: ARAY) was also given a Buy rating by BTIG, with a $9 price target. The stock has gained 90% in the last twelve months. Shares of ARAY also increased 4% in the previous five days.

The company has a market cap of $378 million. In the third quarter of 2021, Accuray Incorporated (NASDAQ: ARAY) had an EPS of $0.00, beating estimates by $0.01. The company’s third-quarter revenue was $102.6 million, increasing 3% year over year and beating estimates by $3.29 million. 

At the end of the first quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $90.1 million in Accuray Incorporated (NASDAQ: ARAY). Archon Capital Management is the company’s largest shareholder, with 4.5 million shares worth $22.6 million.

You can also take a peek at the 15 Best Consumer Discretionary Stocks to Buy Now and 15 Best Cybersecurity Stocks to Buy Now.

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