170,000 Shares in Accuray Incorporated (NASDAQ:ARAY) Acquired by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in shares of Accuray Incorporated (NASDAQ:ARAY) during the first quarter, Holdings Channel.com reports. The fund bought 170,000 shares of the medical equipment provider’s stock, valued at approximately $323,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in shares of Accuray by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,926,313 shares of the medical equipment provider’s stock worth $13,892,000 after buying an additional 35,804 shares during the period. Archon Capital Management LLC increased its stake in Accuray by 2.2% in the fourth quarter. Archon Capital Management LLC now owns 4,364,484 shares of the medical equipment provider’s stock valued at $12,308,000 after purchasing an additional 95,888 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Accuray by 3.1% in the first quarter. Russell Investments Group Ltd. now owns 3,554,650 shares of the medical equipment provider’s stock valued at $6,746,000 after purchasing an additional 106,994 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Accuray by 316.3% in the first quarter. JPMorgan Chase & Co. now owns 2,043,822 shares of the medical equipment provider’s stock valued at $3,883,000 after purchasing an additional 1,552,850 shares during the last quarter. Finally, State Street Corp increased its stake in Accuray by 4.5% in the first quarter. State Street Corp now owns 1,672,496 shares of the medical equipment provider’s stock valued at $3,178,000 after purchasing an additional 72,267 shares during the last quarter. Hedge funds and other institutional investors own 72.18% of the company’s stock.

Shares of ARAY opened at $2.03 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.20 and a debt-to-equity ratio of 3.62. The firm has a market cap of $199.14 million, a PE ratio of 101.55 and a beta of 1.99. The company’s 50 day simple moving average is $2.18 and its 200-day simple moving average is $2.53. Accuray Incorporated has a 12-month low of $1.33 and a 12-month high of $4.68.

Accuray (NASDAQ:ARAY) last announced its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.07. The business had revenue of $99.55 million for the quarter, compared to analyst estimates of $96.46 million. Accuray had a net margin of 0.64% and a negative return on equity of 14.83%. As a group, equities research analysts forecast that Accuray Incorporated will post -0.09 EPS for the current fiscal year.

Several equities analysts have commented on the stock. BTIG Research reiterated a “buy” rating and issued a $6.00 price target on shares of Accuray in a research note on Wednesday, June 17th. Lake Street Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Accuray in a research note on Sunday, June 21st. Cowen reiterated an “average” rating and issued a $8.00 price target on shares of Accuray in a research note on Sunday, June 21st. ValuEngine upgraded shares of Accuray from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Finally, BidaskClub lowered shares of Accuray from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Accuray has an average rating of “Hold” and an average target price of $7.00.

About Accuray

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: QQQ ETF

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Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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