BlackRock Inc. Boosts Holdings in Accuray Incorporated (NASDAQ:ARAY)

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BlackRock Inc. raised its stake in Accuray Incorporated (NASDAQ:ARAY) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,807,077 shares of the medical equipment provider’s stock after buying an additional 716,406 shares during the quarter. BlackRock Inc. owned about 10.28% of Accuray worth $36,110,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Royce & Associates LP raised its position in Accuray by 6.9% in the 2nd quarter. Royce & Associates LP now owns 2,099,812 shares of the medical equipment provider’s stock valued at $8,609,000 after buying an additional 135,785 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Accuray by 41.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,874,105 shares of the medical equipment provider’s stock worth $9,371,000 after acquiring an additional 553,814 shares during the last quarter. Legal & General Group Plc increased its holdings in Accuray by 6,287.6% in the 1st quarter. Legal & General Group Plc now owns 1,361,381 shares of the medical equipment provider’s stock worth $6,807,000 after acquiring an additional 1,340,068 shares during the last quarter. Northern Trust Corp increased its holdings in Accuray by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,027,899 shares of the medical equipment provider’s stock worth $5,139,000 after acquiring an additional 25,184 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Accuray by 17.4% in the 2nd 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 during the period. 83.56% of the stock is currently owned by hedge funds and other institutional investors.

In other 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 value of $39,253.76. Following the completion of the sale, the chief financial officer now owns 116,238 shares of the company’s stock, valued at approximately $520,746.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 completion of the sale, the chief executive officer now directly owns 1,387,162 shares of the company’s stock, valued at approximately $6,075,769.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,378 shares of company stock worth $218,502. Company insiders own 3.40% of the company’s stock.

Shares of NASDAQ:ARAY traded down $0.21 during midday trading on Friday, reaching $5.01. 856,781 shares of the company’s stock traded hands, compared to its average volume of 1,253,111. The company has a market cap of $454.10 million, a P/E ratio of -17.89 and a beta of 1.60. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.69 and a quick ratio of 1.04. Accuray Incorporated has a one year low of $3.20 and a one year high of $6.15.

Accuray (NASDAQ:ARAY) last issued its quarterly earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $95.83 million during the quarter, compared to analysts’ expectations of $95.10 million. Accuray had a negative return on equity of 42.24% and a negative net margin of 5.79%. During the same quarter in the previous year, the company earned ($0.11) EPS. On average, sell-side analysts anticipate that Accuray Incorporated will post -0.14 earnings per share for the current year.

ARAY has been the subject of a number of research analyst reports. Citigroup upgraded Accuray from a “sell” rating to a “neutral” rating and lifted their price target for the company from $3.50 to $3.90 in a research report on Thursday, November 1st. BTIG Research restated a “hold” rating on shares of Accuray in a research report on Wednesday, August 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 price target on shares of Accuray in a research note on Friday, August 17th. Finally, BidaskClub cut Accuray from a “sell” rating to a “strong sell” rating in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.36.

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Accuray 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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Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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