US Bancorp DE Grows Position in Accuray Incorporated (NASDAQ:ARAY)

US Bancorp DE lifted its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 1,087.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,816 shares of the medical equipment provider’s stock after buying an additional 16,316 shares during the quarter. US Bancorp DE’s holdings in Accuray were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Nisa Investment Advisors LLC lifted 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 valued at $28,000 after acquiring an additional 15,209 shares during the period. AQR Capital Management LLC purchased a new stake in Accuray during the 2nd quarter valued at $30,000. SG Americas Securities LLC purchased a new stake in Accuray in the 3rd quarter worth about $59,000. Allspring Global Investments Holdings LLC grew its position in Accuray by 6,480.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 35,007 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 34,475 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Accuray by 13.3% in 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 in the last quarter. Institutional investors own 64.08% of the company’s stock.

Wall Street Analyst Weigh In

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

Accuray Stock Performance

NASDAQ ARAY opened at $1.70 on Tuesday. Accuray Incorporated has a fifty-two week low of $1.40 and a fifty-two week high of $3.05. The firm has a market capitalization of $170.97 million, a P/E ratio of -10.00 and a beta of 1.40. The stock’s fifty day moving average is $1.86 and its two-hundred day moving average is $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.

Accuray (NASDAQ:ARAY) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $98.10 million. During the same period in the previous year, the company posted ($0.03) EPS. On average, research analysts anticipate that Accuray Incorporated will post 0.01 earnings per share for the current year.

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.