Partner Investment Management L.P. cut its stake in Accuray Incorporated (NASDAQ:ARAY) by 25.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,513 shares of the medical equipment provider’s stock after selling 10,755 shares during the quarter. Partner Investment Management L.P.’s holdings in Accuray were worth $142,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in shares of Accuray by 8.6% in the 3rd quarter. Renaissance Technologies LLC now owns 5,312,623 shares of the medical equipment provider’s stock valued at $23,907,000 after purchasing an additional 422,023 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Accuray by 1,329.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 324,279 shares of the medical equipment provider’s stock valued at $1,459,000 after purchasing an additional 301,593 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Accuray by 3,259.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,162,567 shares of the medical equipment provider’s stock valued at $9,732,000 after purchasing an additional 2,098,187 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Accuray by 6.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,243,000 shares of the medical equipment provider’s stock valued at $10,094,000 after purchasing an additional 131,283 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Accuray by 168.4% in the 3rd quarter. Virtu Financial LLC now owns 94,056 shares of the medical equipment provider’s stock valued at $423,000 after purchasing an additional 59,011 shares during the last quarter. 84.28% of the stock is owned by institutional investors.
ARAY has been the topic of several analyst reports. BidaskClub downgraded Accuray from a “sell” rating to a “strong sell” rating in a research note on Friday, August 17th. Citigroup decreased their price target on Accuray from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Friday, August 17th. Jefferies Financial Group restated a “buy” rating and issued a $6.00 price target on shares of Accuray in a research note on Friday, August 17th. Finally, BTIG Research restated a “hold” rating on shares of Accuray in a research note on Wednesday, August 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.63.
Accuray stock opened at $3.97 on Thursday. The company has a current ratio of 1.69, a quick ratio of 0.96 and a debt-to-equity ratio of 2.74. Accuray Incorporated has a 1-year low of $3.20 and a 1-year high of $6.15. The company has a market capitalization of $344.04 million, a P/E ratio of -14.18 and a beta of 1.51.
Accuray (NASDAQ:ARAY) last posted its quarterly earnings results on Tuesday, October 30th. The medical equipment provider reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Accuray had a negative net margin of 5.79% and a negative return on equity of 42.24%. The business had revenue of $95.83 million during the quarter, compared to analysts’ expectations of $95.10 million. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities analysts anticipate that Accuray Incorporated will post -0.14 earnings per share for the current fiscal year.
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Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.
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