Royce & Associates LP lessened its position in shares of Accuray Incorporated (NASDAQ:ARAY) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,054,312 shares of the medical equipment provider’s stock after selling 45,500 shares during the period. Royce & Associates LP owned approximately 2.37% of Accuray worth $9,244,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. First Trust Advisors LP lifted its position in shares of Accuray by 113.1% during the second quarter. First Trust Advisors LP now owns 27,337 shares of the medical equipment provider’s stock worth $112,000 after purchasing an additional 14,508 shares in the last quarter. KBC Group NV acquired a new stake in shares of Accuray during the second quarter worth about $112,000. Mackay Shields LLC lifted its position in shares of Accuray by 59.9% during the second quarter. Mackay Shields LLC now owns 264,500 shares of the medical equipment provider’s stock worth $1,084,000 after purchasing an additional 99,100 shares in the last quarter. Systematic Financial Management LP acquired a new stake in shares of Accuray during the second quarter worth about $1,064,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Accuray by 17.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 532,195 shares of the medical equipment provider’s stock worth $2,182,000 after purchasing an additional 78,870 shares in the last quarter. Institutional investors own 84.28% of the company’s stock.
ARAY stock opened at $3.85 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.69 and a debt-to-equity ratio of 2.74. Accuray Incorporated has a fifty-two week low of $3.20 and a fifty-two week high of $6.15.
Accuray (NASDAQ:ARAY) last released its earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Accuray had a negative return on equity of 42.24% and a negative net margin of 5.79%. The firm had revenue of $95.83 million for the quarter, compared to analysts’ expectations of $95.10 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. On average, sell-side analysts forecast that Accuray Incorporated will post -0.14 earnings per share for the current year.
In related news, CFO Shigeyuki Hamamatsu sold 8,762 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $4.48, for a total transaction of $39,253.76. Following the sale, the chief financial officer now directly owns 116,238 shares in the company, valued at $520,746.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joshua Levine sold 15,839 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $4.00, for a total transaction of $63,356.00. Following the sale, the chief executive officer now owns 1,340,197 shares in the company, valued at $5,360,788. The disclosure for this sale can be found here. Insiders have sold 66,561 shares of company stock worth $291,492 over the last 90 days. Insiders own 3.40% of the company’s stock.
ARAY has been the topic of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $6.00 price target on shares of Accuray in a research report on Friday, August 17th. Citigroup raised shares of Accuray from a “sell” rating to a “neutral” rating and increased their price target for the stock from $3.50 to $3.90 in a research report on Thursday, November 1st. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Finally, BidaskClub cut shares of Accuray from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.63.
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Accuray Company Profile
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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