Los Angeles Capital Management LLC Makes New $418,000 Investment in Accuray Incorporated (NASDAQ:ARAY)

Los Angeles Capital Management LLC bought a new position in Accuray Incorporated (NASDAQ:ARAY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 232,218 shares of the medical equipment provider’s stock, valued at approximately $418,000.

Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in Accuray by 0.3% during the second quarter. Renaissance Technologies LLC now owns 2,812,184 shares of the medical equipment provider’s stock valued at $5,118,000 after purchasing an additional 7,500 shares during the period. Armistice Capital LLC acquired a new stake in Accuray in the second quarter valued at $910,000. Bank of New York Mellon Corp lifted its stake in Accuray by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider’s stock valued at $509,000 after acquiring an additional 8,864 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Accuray by 127.1% in the third quarter. Assenagon Asset Management S.A. now owns 164,999 shares of the medical equipment provider’s stock valued at $297,000 after acquiring an additional 92,357 shares during the last quarter. Finally, Perritt Capital Management Inc lifted its stake in Accuray by 139.3% in the second quarter. Perritt Capital Management Inc now owns 120,000 shares of the medical equipment provider’s stock valued at $218,000 after acquiring an additional 69,864 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.

Accuray Stock Performance

NASDAQ ARAY opened at $1.70 on Monday. The firm has a 50-day moving average of $1.86 and a 200-day moving average of $1.83. The company has a debt-to-equity ratio of 3.59, a quick ratio of 0.87 and a current ratio of 1.63. The stock has a market cap of $170.97 million, a PE ratio of -10.00 and a beta of 1.40. Accuray Incorporated has a 52-week low of $1.40 and a 52-week high of $3.05.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. The business had revenue of $101.55 million for the quarter, compared to analyst estimates of $98.10 million. During the same period last year, the firm earned ($0.03) earnings per share. On average, sell-side analysts anticipate that Accuray Incorporated will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Accuray from a “buy” rating to a “hold” rating in a research note on Friday.

Accuray Profile

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.