Silverback Asset Management LLC Trims Stock Holdings in Accuray Incorporated (NASDAQ:ARAY)

Silverback Asset Management LLC decreased its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 99.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,061 shares of the medical equipment provider’s stock after selling 15,026,939 shares during the quarter. Silverback Asset Management LLC owned about 0.07% of Accuray worth $137,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new stake in Accuray during the fourth quarter valued at $35,000. Prudential Financial Inc. bought a new stake in Accuray during the 4th quarter worth approximately $43,000. ProShare Advisors LLC lifted its holdings in Accuray by 50.7% during the fourth quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider’s stock valued at $54,000 after purchasing an additional 9,187 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Accuray in the fourth quarter worth approximately $66,000. Finally, Gabelli Funds LLC increased its stake in shares of Accuray by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 64.08% of the company’s stock.

Accuray Stock Down 0.6%

NASDAQ ARAY opened at $1.57 on Monday. Accuray Incorporated has a 12 month low of $1.28 and a 12 month high of $2.95. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 3.51. The stock has a market cap of $161.73 million, a PE ratio of -31.40 and a beta of 1.30. The stock’s 50 day moving average is $1.60 and its 200 day moving average is $1.90.

Accuray (NASDAQ:ARAY) last issued its earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $113.24 million during the quarter, compared to analyst estimates of $101.53 million. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. Research analysts predict that Accuray Incorporated will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Accuray from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st.

Accuray Company Profile

Accuray Incorporated designs, develops, manufactures, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the United States, Canada, Latin America, Asia, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, and China. It offers the CyberKnife platform, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of primary and metastatic tumors outside the brain, including tumors on or near the spine and in the breast, kidney, liver, lung, pancreas, and prostate.