4,932,706 Shares in Accuray Incorporated $ARAY Acquired by Weber Capital Management LLC ADV

Weber Capital Management LLC ADV bought a new position in shares of Accuray Incorporated (NASDAQ:ARAY) in the second quarter, Holdings Channel reports. The fund bought 4,932,706 shares of the medical equipment provider’s stock, valued at approximately $1,271,652,000. Accuray makes up approximately 1.1% of Weber Capital Management LLC ADV’s investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Accuray during the 3rd quarter valued at $35,000. Janney Montgomery Scott LLC acquired a new position in shares of Accuray in the 4th quarter worth $41,000. Oxford Asset Management LLP acquired a new stake in shares of Accuray during the fourth quarter worth $44,000. Tower Research Capital LLC TRC raised its position in shares of Accuray by 604.2% during the second quarter. Tower Research Capital LLC TRC now owns 35,177 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 30,182 shares during the period. Finally, Williams & Novak LLC lifted its holdings in shares of Accuray by 30.9% during the second quarter. Williams & Novak LLC now owns 238,230 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 56,200 shares during the last quarter. Institutional investors own 64.08% of the company’s stock.

Analysts Set New Price Targets

ARAY has been the subject of a number of recent analyst reports. BTIG Research reiterated a “neutral” rating on shares of Accuray in a research report on Wednesday, July 8th. Jefferies Financial Group cut shares of Accuray from a “buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Accuray in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $2.00.

Accuray Stock Performance

NASDAQ:ARAY opened at $0.28 on Monday. The stock has a market cap of $33.43 million, a PE ratio of -0.70 and a beta of 1.39. Accuray Incorporated has a fifty-two week low of $0.22 and a fifty-two week high of $2.10. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.42 and a quick ratio of 0.66. The stock’s 50-day moving average is $0.28 and its two-hundred day moving average is $0.38.

Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Wednesday, August 19th. The medical equipment provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $100.92 million during the quarter, compared to analyst estimates of $105.30 million. Accuray had a negative net margin of 12.24% and a negative return on equity of 92.88%.

Accuray Company Profile

Accuray Incorporated (NASDAQ: ARAY) is a global medical device company that develops, manufactures and markets innovative radiation therapy solutions for the treatment of cancer. The company’s flagship products include the CyberKnife® System, a robotic radiosurgery platform offering sub-millimeter precision, and the TomoTherapy® System, which combines helical computed tomography (CT) imaging with intensity-modulated radiation therapy (IMRT). More recently, Accuray introduced the Radixact® System, an advanced iteration of its TomoTherapy technology designed to enhance treatment speed and clinical workflow.

Accuray’s suite of products enables clinicians to deliver highly targeted radiation doses while minimizing exposure to surrounding healthy tissue.