Dimensional Fund Advisors LP raised its holdings in Accuray Incorporated (NASDAQ:ARAY) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,111,717 shares of the medical equipment provider’s stock after purchasing an additional 237,612 shares during the quarter. Dimensional Fund Advisors LP owned 2.47% of Accuray worth $8,658,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Sei Investments Co. acquired a new stake in shares of Accuray in the 1st quarter valued at $107,000. First Trust Advisors LP boosted its holdings in shares of Accuray by 113.1% in the 2nd quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 14,508 shares in the last quarter. KBC Group NV acquired a new stake in shares of Accuray in the 2nd quarter valued at $112,000. Element Capital Management LLC acquired a new stake in shares of Accuray in the 1st quarter valued at $141,000. Finally, Systematic Financial Management LP acquired a new stake in shares of Accuray in the 2nd quarter valued at $1,064,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.
ARAY has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of Accuray in a report on Friday, August 17th. BidaskClub downgraded Accuray from a “hold” rating to a “sell” rating in a report on Saturday, June 23rd. Citigroup dropped their price target on Accuray from $4.00 to $3.50 and set a “sell” rating for the company in a research note on Friday, August 17th. Zacks Investment Research upgraded Accuray from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, BTIG Research reiterated a “hold” rating on shares of Accuray in a research note on Wednesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.68.
Shares of ARAY opened at $3.61 on Friday. Accuray Incorporated has a 52 week low of $3.20 and a 52 week high of $6.15. The firm has a market capitalization of $319.17 million, a PE ratio of -12.89 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 quarterly earnings results on Thursday, August 16th. The medical equipment provider reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $113.79 million during the quarter, compared to analysts’ expectations of $108.45 million. During the same period in the prior year, the company earned ($0.04) EPS. As a group, analysts expect that Accuray Incorporated will post -0.1 EPS for the current year.
In related news, CFO Shigeyuki Hamamatsu sold 8,762 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $4.48, for a total transaction 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 sale 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 firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $4.38, for a total value of $75,519.96. Following 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. Insiders sold a total of 27,790 shares of company stock valued at $122,775 over the last quarter. 3.40% of the stock is owned by corporate insiders.
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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