242,249 Shares in Accuray Incorporated (NASDAQ:ARAY) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in Accuray Incorporated (NASDAQ:ARAY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 242,249 shares of the medical equipment provider’s stock, valued at approximately $938,000. Wedge Capital Management L L P NC owned about 0.28% of Accuray as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ARAY. Dimensional Fund Advisors LP raised its holdings in Accuray by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,321,330 shares of the medical equipment provider’s stock valued at $7,916,000 after buying an additional 78,330 shares during the period. Lapides Asset Management LLC raised its holdings in Accuray by 8.8% in the first quarter. Lapides Asset Management LLC now owns 1,070,700 shares of the medical equipment provider’s stock valued at $5,107,000 after buying an additional 86,900 shares during the period. Geode Capital Management LLC raised its holdings in Accuray by 14.6% in the fourth quarter. Geode Capital Management LLC now owns 992,090 shares of the medical equipment provider’s stock valued at $3,382,000 after buying an additional 126,656 shares during the period. Norges Bank purchased a new position in Accuray in the fourth quarter valued at approximately $3,287,000. Finally, Assenagon Asset Management S.A. raised its holdings in Accuray by 79.7% in the first quarter. Assenagon Asset Management S.A. now owns 930,916 shares of the medical equipment provider’s stock valued at $4,440,000 after buying an additional 412,925 shares during the period. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. BidaskClub lowered shares of Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. BTIG Research restated a “hold” rating on shares of Accuray in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.13.

In other news, CEO Joshua Levine sold 56,426 shares of Accuray stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $3.75, for a total transaction of $211,597.50. Following the sale, the chief executive officer now owns 977,167 shares in the company, valued at $3,664,376.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Kirkpatrick sold 8,222 shares of Accuray stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $3.75, for a total transaction of $30,832.50. Following the sale, the insider now owns 232,414 shares in the company, valued at approximately $871,552.50. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

NASDAQ ARAY opened at $2.83 on Friday. Accuray Incorporated has a one year low of $2.35 and a one year high of $5.40. The company’s 50 day moving average price is $3.77 and its 200 day moving average price is $4.22. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.03 and a current ratio of 1.71. The firm has a market capitalization of $294.88 million, a price-to-earnings ratio of -18.87 and a beta of 1.84.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Thursday, August 15th. The medical equipment provider reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The business had revenue of $117.42 million during the quarter, compared to analysts’ expectations of $116.09 million. Accuray had a negative net margin of 3.85% and a negative return on equity of 25.91%. During the same quarter in the previous year, the business posted ($0.01) EPS. Sell-side analysts forecast that Accuray Incorporated will post -0.02 EPS for the current fiscal year.

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.

Further Reading: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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