Today: The Advisory Services Network LLC Increases Position in Accuray Inc. (ARAY)

The Advisory Services Network LLC Increases Position in Accuray Inc. (ARAY)

Advisory Services Network LLC raised its stake in Accuray Inc. (NASDAQ:ARAY) by 19.0% during the second quarter, Holdings Channel reports. The firm owned 21,900 shares of the company’s stock after buying an additional 3,500 shares during the period. Advisory Services Network LLC’s holdings in Accuray were worth $114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC raised its position in Accuray by 22.2% in the first quarter. Renaissance Technologies LLC now owns 2,781,400 shares of the company’s stock valued at $16,076,000 after buying an additional 505,877 shares during the period. Bogle Investment Management L P DE acquired a new position in Accuray during the first quarter valued at about $2,822,000. Royce & Associates LP raised its position in Accuray by 15.3% in the first quarter. Royce & Associates LP now owns 1,999,500 shares of the company’s stock valued at $11,557,000 after buying an additional 264,600 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Accuray during the first quarter valued at about $1,242,000. Finally, Pictet Asset Management Ltd. raised its position in Accuray by 32.0% in the first quarter. Pictet Asset Management Ltd. now owns 879,741 shares of the company’s stock valued at $4,443,000 after buying an additional 213,424 shares during the period. 92.55% of the stock is owned by hedge funds and other institutional investors.

Accuray Inc. (NASDAQ:ARAY) traded up 2.381% during mid-day trading on Wednesday, hitting $5.805. 326,213 shares of the stock traded hands. Accuray Inc. has a one year low of $4.75 and a one year high of $7.54. The stock’s market capitalization is $473.54 million. The company has a 50 day moving average price of $5.64 and a 200-day moving average price of $5.48.

Accuray (NASDAQ:ARAY) last announced its earnings results on Wednesday, August 17th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.02. The company had revenue of $95 million for the quarter, compared to the consensus estimate of $98.97 million. Accuray had a negative return on equity of 35.82% and a negative net margin of 5.55%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. Equities analysts anticipate that Accuray Inc. will post ($0.17) earnings per share for the current fiscal year.

Several research analysts recently issued reports on ARAY shares. Cowen and Company started coverage on shares of Accuray in a research report on Tuesday, September 13th. They issued an “outperform” rating and a $9.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $8.00 price target on shares of Accuray in a research report on Tuesday, September 27th. Finally, Morgan Stanley set a $8.00 price objective on shares of Accuray and gave the stock a “hold” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $8.46.

Accuray Company Profile

Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.

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