Kovack Advisors Inc. Sells 25,400 Shares of Accuray Incorporated (NASDAQ:ARAY)

Kovack Advisors Inc. reduced its position in shares of Accuray Incorporated (NASDAQ:ARAY) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,104,950 shares of the medical equipment provider’s stock after selling 25,400 shares during the quarter. Kovack Advisors Inc. owned 1.14% of Accuray worth $3,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ARAY. SG Americas Securities LLC bought a new stake in Accuray during the 3rd quarter valued at about $97,000. Commonwealth Equity Services LLC bought a new stake in shares of Accuray in the third quarter worth approximately $35,000. Mackenzie Financial Corp bought a new stake in shares of Accuray in the third quarter worth approximately $58,000. Barclays PLC grew its stake in shares of Accuray by 25.8% in the third quarter. Barclays PLC now owns 46,169 shares of the medical equipment provider’s stock worth $126,000 after acquiring an additional 9,476 shares during the period. Finally, Heartland Advisors Inc. grew its stake in shares of Accuray by 6.8% in the third quarter. Heartland Advisors Inc. now owns 2,847,800 shares of the medical equipment provider’s stock worth $7,746,000 after acquiring an additional 181,050 shares during the period. 64.08% of the stock is currently owned by institutional investors.

Accuray Stock Performance

Shares of ARAY traded up $0.01 on Friday, reaching $2.19. The company’s stock had a trading volume of 344,340 shares, compared to its average volume of 447,549. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84. The stock has a market capitalization of $217.18 million, a P/E ratio of -14.53 and a beta of 1.44. The stock’s 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $2.65. Accuray Incorporated has a 12-month low of $2.10 and a 12-month high of $4.30.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Accuray had a negative net margin of 3.25% and a negative return on equity of 28.11%. The firm had revenue of $107.24 million for the quarter, compared to analysts’ expectations of $107.11 million. During the same period in the prior year, the firm earned ($0.02) EPS. Research analysts forecast that Accuray Incorporated will post -0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARAY shares. Roth Capital reiterated a “buy” rating on shares of Accuray in a research note on Tuesday, February 13th. TheStreet lowered shares of Accuray from a “c-” rating to a “d+” rating in a research note on Wednesday, February 14th. Finally, Roth Mkm began coverage on shares of Accuray in a report on Tuesday, February 13th. They issued a “buy” rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.25.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.