Weber Capital Management LLC ADV Acquires New Holdings in Accuray Incorporated $ARAY

Weber Capital Management LLC ADV purchased a new position in Accuray Incorporated (NASDAQ:ARAY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,932,706 shares of the medical equipment provider’s stock, valued at approximately $1,271,652. Accuray accounts for about 0.0% of Weber Capital Management LLC ADV’s holdings, making the stock its 12th largest holding. Weber Capital Management LLC ADV owned 4.15% of Accuray as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. TCW Group Inc. increased its holdings in shares of Accuray by 29.9% in the 4th quarter. TCW Group Inc. now owns 15,467,952 shares of the medical equipment provider’s stock valued at $12,684,000 after acquiring an additional 3,558,595 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Accuray during the 2nd quarter valued at $842,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in shares of Accuray in the 2nd quarter worth approximately $2,055,000. Armistice Capital LLC boosted its position in Accuray by 35.4% in the 4th quarter. Armistice Capital LLC now owns 4,500,000 shares of the medical equipment provider’s stock valued at $3,711,000 after buying an additional 1,176,000 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Accuray by 76.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,918,086 shares of the medical equipment provider’s stock worth $1,538,000 after acquiring an additional 831,220 shares during the period. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BTIG Research restated a “neutral” rating on shares of Accuray in a report on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Accuray in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group cut shares of Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Accuray has a consensus rating of “Reduce” and an average price target of $2.00.

Accuray Stock Up 3.0%

NASDAQ:ARAY traded up $0.01 during mid-day trading on Friday, reaching $0.27. The stock had a trading volume of 380,687 shares, compared to its average volume of 2,014,251. 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 has a market cap of $32.12 million, a P/E ratio of -0.67 and a beta of 1.39. The business’s 50 day moving average is $0.27 and its 200 day moving average is $0.37.

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

About Accuray

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.