Rhumbline Advisers Reduces Stake in Accuray Incorporated (NASDAQ:ARAY)

Rhumbline Advisers reduced its stake in Accuray Incorporated (NASDAQ:ARAY) by 18.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,597 shares of the medical equipment provider’s stock after selling 17,830 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Accuray worth $158,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ARAY. US Bancorp DE grew its holdings 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 valued at $32,000 after buying an additional 16,316 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Accuray in the 3rd quarter valued at $418,000. Thrivent Financial for Lutherans purchased a new position in shares of Accuray during the 3rd quarter worth $57,000. Caprock Group LLC purchased a new position in shares of Accuray during the 3rd quarter worth $36,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Accuray by 489.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 277,859 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 230,695 shares during the period. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Accuray Price Performance

ARAY opened at $1.79 on Tuesday. The stock’s 50-day moving average price is $2.17 and its 200 day moving average price is $2.02. Accuray Incorporated has a 12-month low of $1.40 and a 12-month high of $2.95. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 3.51. The firm has a market cap of $184.07 million, a price-to-earnings ratio of -35.80 and a beta of 1.46.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. As a group, sell-side analysts expect that Accuray Incorporated will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Accuray from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th.

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.