Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Accuray Incorporated (NASDAQ:ARAY)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 489.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 277,859 shares of the medical equipment provider’s stock after acquiring an additional 230,695 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.28% of Accuray worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ARAY. Price T Rowe Associates Inc. MD boosted its position in Accuray by 9.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,146 shares of the medical equipment provider’s stock valued at $181,000 after purchasing an additional 6,583 shares in the last quarter. Williams & Novak LLC lifted its holdings in shares of Accuray by 259.2% during the 2nd quarter. Williams & Novak LLC now owns 96,900 shares of the medical equipment provider’s stock valued at $176,000 after purchasing an additional 69,925 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Accuray by 81.6% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 96,900 shares of the medical equipment provider’s stock worth $176,000 after purchasing an additional 43,550 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Accuray during the 2nd quarter worth $132,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Accuray by 253,483.3% in the second quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 15,209 shares in the last quarter. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Accuray from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Accuray Price Performance

Accuray stock opened at $2.23 on Friday. Accuray Incorporated has a 12-month low of $1.40 and a 12-month high of $3.05. The stock has a market cap of $224.26 million, a P/E ratio of -13.12 and a beta of 1.40. The company has a 50-day moving average price of $1.86 and a 200 day moving average price of $1.84. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59.

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

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.