Accuray Incorporated (NASDAQ:ARAY) Holdings Raised by State Street Corp

State Street Corp boosted its stake in Accuray Incorporated (NASDAQ:ARAY) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,894,287 shares of the medical equipment provider’s stock after buying an additional 70,008 shares during the quarter. State Street Corp owned approximately 1.88% of Accuray worth $3,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Accuray by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,936 shares of the medical equipment provider’s stock worth $82,000 after acquiring an additional 5,273 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Accuray by 0.3% during the 2nd 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. Bank of New York Mellon Corp grew its holdings in Accuray by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,426 shares of the medical equipment provider’s stock valued at $509,000 after buying an additional 8,864 shares during the last quarter. US Bancorp DE increased its position in Accuray by 1,087.7% in the 3rd quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 16,316 shares during the period. Finally, AQR Capital Management LLC acquired a new position in shares of Accuray during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Accuray Price Performance

Shares of ARAY opened at $1.79 on Tuesday. The company has a market cap of $180.01 million, a price-to-earnings ratio of -10.53 and a beta of 1.44. The company has a current ratio of 1.63, a quick ratio of 0.87 and a debt-to-equity ratio of 3.59. The company’s fifty day simple moving average is $1.91 and its 200 day simple moving average is $1.89. Accuray Incorporated has a 1-year low of $1.40 and a 1-year high of $2.99.

Accuray (NASDAQ:ARAY) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Accuray had a negative return on equity of 36.93% and a negative net margin of 3.72%. The company had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $98.10 million. During the same period last year, the firm posted ($0.03) earnings per share. On average, research analysts forecast that Accuray Incorporated will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.