Jacobs Levy Equity Management Inc. Trims Stake in Accuray Incorporated (NASDAQ:ARAY)

Jacobs Levy Equity Management Inc. reduced its position in Accuray Incorporated (NASDAQ:ARAY) by 15.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 323,860 shares of the medical equipment provider’s stock after selling 61,084 shares during the period. Jacobs Levy Equity Management Inc. owned 0.31% of Accuray worth $641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ARAY. Heartland Advisors Inc. increased its position in Accuray by 14.1% in the 4th quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider’s stock valued at $7,573,000 after acquiring an additional 472,800 shares during the period. JPMorgan Chase & Co. increased its position in Accuray by 482.4% in the 4th quarter. JPMorgan Chase & Co. now owns 242,713 shares of the medical equipment provider’s stock valued at $481,000 after acquiring an additional 201,037 shares during the period. Renaissance Technologies LLC increased its position in Accuray by 6.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider’s stock valued at $5,900,000 after acquiring an additional 189,414 shares during the period. Walleye Capital LLC acquired a new position in Accuray in the 4th quarter valued at about $300,000. Finally, Barclays PLC increased its position in Accuray by 97.9% in the 3rd quarter. Barclays PLC now owns 210,819 shares of the medical equipment provider’s stock valued at $380,000 after acquiring an additional 104,310 shares during the period. 64.08% of the stock is owned by hedge funds and other institutional investors.

Accuray Stock Performance

Shares of ARAY stock opened at $1.62 on Friday. The stock has a market capitalization of $166.88 million, a PE ratio of -32.40 and a beta of 1.30. Accuray Incorporated has a 52-week low of $1.28 and a 52-week high of $2.95. The stock’s 50-day moving average price is $1.62 and its 200 day moving average price is $1.91. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51.

Accuray (NASDAQ:ARAY) last released its earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. The company had revenue of $113.24 million for the quarter, compared to analysts’ expectations of $101.53 million. As a group, equities research analysts forecast that Accuray Incorporated will post 0.01 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Accuray from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th.

About Accuray

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.