Alliancebernstein L.P. boosted its stake in Accuray Incorporated (NASDAQ:ARAY) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,891 shares of the medical equipment provider’s stock after purchasing an additional 11,400 shares during the period. Alliancebernstein L.P. owned about 0.12% of Accuray worth $460,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in Accuray by 1.5% in the 2nd quarter. Wells Fargo & Company MN now owns 62,059 shares of the medical equipment provider’s stock worth $295,000 after purchasing an additional 936 shares during the period. Cowen Prime Services LLC increased its stake in Accuray by 1.2% in the 2nd quarter. Cowen Prime Services LLC now owns 189,599 shares of the medical equipment provider’s stock worth $901,000 after purchasing an additional 2,200 shares during the period. American International Group Inc. increased its stake in Accuray by 7.1% in the 1st quarter. American International Group Inc. now owns 49,098 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 3,256 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Accuray by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 413,032 shares of the medical equipment provider’s stock worth $1,962,000 after purchasing an additional 4,812 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in Accuray by 10.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 55,675 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 5,407 shares during the period. 74.87% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Kelly Londy sold 99,136 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $4.24, for a total transaction of $420,336.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.
A number of equities analysts have commented on ARAY shares. BidaskClub cut Accuray from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research cut Accuray from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.00 price target on shares of Accuray in a research note on Thursday, August 24th. Jefferies Group LLC reduced their target price on Accuray from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 23rd. Finally, BTIG Research reissued a “hold” rating on shares of Accuray in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $6.29.
Accuray Incorporated (ARAY) opened at $4.70 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.11. Accuray Incorporated has a 12 month low of $3.60 and a 12 month high of $6.00.
Accuray (NASDAQ:ARAY) last posted its earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. Accuray had a negative return on equity of 55.91% and a negative net margin of 7.49%. The firm had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $88.26 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. analysts predict that Accuray Incorporated will post -0.18 earnings per share for the current year.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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