Lapides Asset Management LLC Trims Holdings in Accuray Incorporated (ARAY)

Lapides Asset Management LLC decreased its position in Accuray Incorporated (NASDAQ:ARAY) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,964,100 shares of the medical equipment provider’s stock after selling 257,200 shares during the quarter. Accuray accounts for 1.6% of Lapides Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Lapides Asset Management LLC owned approximately 2.34% of Accuray worth $7,856,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Aperio Group LLC bought a new stake in Accuray in the 3rd quarter worth approximately $111,000. Goldman Sachs Group Inc. increased its position in shares of Accuray by 116.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,173 shares of the medical equipment provider’s stock valued at $143,000 after purchasing an additional 16,223 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Accuray during the 2nd quarter valued at approximately $168,000. AHL Partners LLP increased its position in shares of Accuray by 28.4% during the 2nd quarter. AHL Partners LLP now owns 39,823 shares of the medical equipment provider’s stock valued at $189,000 after purchasing an additional 8,817 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Accuray by 253.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 41,697 shares of the medical equipment provider’s stock valued at $198,000 after purchasing an additional 29,900 shares during the last quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of Accuray Incorporated (NASDAQ:ARAY) traded up $0.10 during mid-day trading on Wednesday, hitting $4.60. The company’s stock had a trading volume of 653,900 shares, compared to its average volume of 678,903. Accuray Incorporated has a twelve month low of $3.60 and a twelve month high of $6.00. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.48 and a quick ratio of 0.92.

Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, October 24th. The medical equipment provider reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $88.26 million. Accuray had a negative return on equity of 55.18% and a negative net margin of 7.49%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) EPS. equities analysts forecast that Accuray Incorporated will post -0.18 EPS for the current year.

Several research firms have recently weighed in on ARAY. Jefferies Group LLC reissued a “buy” rating and set a $7.00 target price on shares of Accuray in a research report on Wednesday, August 9th. Royal Bank Of Canada restated a “hold” rating and set a $5.00 price objective on shares of Accuray in a report on Thursday, August 24th. BTIG Research restated a “hold” rating on shares of Accuray in a report on Thursday, August 24th. Zacks Investment Research upgraded Accuray from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, BidaskClub cut Accuray from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.29.

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In related news, COO Kelly Londy sold 99,136 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $4.24, for a total transaction of $420,336.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Accuray Profile

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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Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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