Spark Investment Management LLC lessened its position in Accuray Incorporated (NASDAQ:ARAY) by 12.2% during the first quarter, Holdings Channel reports. The institutional investor owned 383,800 shares of the medical equipment provider’s stock after selling 53,400 shares during the quarter. Spark Investment Management LLC’s holdings in Accuray were worth $1,830,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ARAY. Norges Bank acquired a new stake in Accuray in the 4th quarter valued at approximately $3,287,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Accuray by 58.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,015,496 shares of the medical equipment provider’s stock worth $6,873,000 after acquiring an additional 741,493 shares during the period. Cadence Capital Management LLC bought a new position in shares of Accuray during the 1st quarter worth approximately $2,307,000. Millennium Management LLC boosted its stake in shares of Accuray by 59.7% during the 4th quarter. Millennium Management LLC now owns 1,257,268 shares of the medical equipment provider’s stock worth $4,287,000 after acquiring an additional 470,087 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Accuray by 79.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 930,916 shares of the medical equipment provider’s stock worth $4,440,000 after acquiring an additional 412,925 shares during the period. 80.57% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on ARAY. BidaskClub downgraded Accuray from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research reiterated a “hold” rating on shares of Accuray in a research note on Wednesday, April 24th. Finally, Zacks Investment Research upgraded Accuray from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.13.
ARAY traded up $0.03 during trading on Tuesday, hitting $3.90. The stock had a trading volume of 5,663 shares, compared to its average volume of 833,806. The company has a market capitalization of $340.65 million, a PE ratio of -13.82 and a beta of 1.97. Accuray Incorporated has a one year low of $3.16 and a one year high of $5.40. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.71 and a quick ratio of 1.03.
Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Tuesday, April 23rd. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $103.22 million during the quarter, compared to the consensus estimate of $104.02 million. Accuray had a negative return on equity of 25.91% and a negative net margin of 3.85%. Equities analysts anticipate that Accuray Incorporated will post -0.16 earnings per share for the current fiscal year.
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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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