Russell Investments Group Ltd. Acquires 91,267 Shares of Accuray Incorporated (ARAY)
Russell Investments Group Ltd. raised its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 13.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 773,480 shares of the medical equipment provider’s stock after buying an additional 91,267 shares during the period. Russell Investments Group Ltd. owned approximately 0.93% of Accuray worth $3,673,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in ARAY. Vident Investment Advisory LLC boosted its position in shares of Accuray by 212.7% in the first quarter. Vident Investment Advisory LLC now owns 1,553,111 shares of the medical equipment provider’s stock valued at $7,377,000 after buying an additional 1,056,395 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Accuray by 26.7% in the first quarter. Neuberger Berman Group LLC now owns 5,014,941 shares of the medical equipment provider’s stock valued at $23,821,000 after buying an additional 1,057,654 shares during the period. American International Group Inc. boosted its position in shares of Accuray by 7.1% in the first quarter. American International Group Inc. now owns 49,098 shares of the medical equipment provider’s stock valued at $233,000 after buying an additional 3,256 shares during the period. Cowen Prime Services LLC boosted its position in shares of Accuray by 12.6% in the first quarter. Cowen Prime Services LLC now owns 187,399 shares of the medical equipment provider’s stock valued at $890,000 after buying an additional 20,945 shares during the period. Finally, Engineers Gate Manager LP raised its stake in Accuray by 196.9% in the first quarter. Engineers Gate Manager LP now owns 48,054 shares of the medical equipment provider’s stock worth $228,000 after buying an additional 31,871 shares in the last quarter. Hedge funds and other institutional investors own 82.74% of the company’s stock.
Accuray Incorporated (ARAY) traded up 1.23% during midday trading on Friday, hitting $4.10. 391,569 shares of the stock were exchanged. The stock’s market cap is $341.03 million. Accuray Incorporated has a 1-year low of $3.60 and a 1-year high of $6.39. The company’s 50 day moving average is $4.31 and its 200-day moving average is $4.59.
Accuray (NASDAQ:ARAY) last released its earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.05. Accuray had a negative return on equity of 45.83% and a negative net margin of 4.69%. The business had revenue of $112.09 million during the quarter, compared to analysts’ expectations of $112 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts expect that Accuray Incorporated will post ($0.19) earnings per share for the current year.
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A number of equities research analysts have recently commented on the stock. BTIG Research reaffirmed a “hold” rating on shares of Accuray in a research note on Thursday. Zacks Investment Research lowered shares of Accuray from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $7.00 price objective (down from $8.00) on shares of Accuray in a research note on Saturday, April 29th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Accuray in a research note on Thursday. Finally, BidaskClub lowered shares of Accuray from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.38.
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.
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