Mackenzie Financial Corp Increases Stock Position in Accuray Incorporated (NASDAQ:ARAY)

Mackenzie Financial Corp lifted its holdings in shares of Accuray Incorporated (NASDAQ:ARAY) by 89.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,253 shares of the medical equipment provider’s stock after buying an additional 19,946 shares during the period. Mackenzie Financial Corp’s holdings in Accuray were worth $120,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Bridge City Capital LLC acquired a new stake in Accuray in the third quarter valued at $92,000. Kestra Advisory Services LLC acquired a new position in shares of Accuray during the 3rd quarter worth $42,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Accuray by 39.8% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 32,155 shares of the medical equipment provider’s stock valued at $89,000 after purchasing an additional 9,155 shares in the last quarter. North Star Investment Management Corp. lifted its stake in shares of Accuray by 16.8% in the fourth quarter. North Star Investment Management Corp. now owns 1,095,920 shares of the medical equipment provider’s stock valued at $3,101,000 after purchasing an additional 157,975 shares during the period. Finally, SG Americas Securities LLC grew its position in Accuray by 28.0% during the fourth quarter. SG Americas Securities LLC now owns 45,862 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 10,046 shares during the period. 64.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARAY has been the subject of a number of research reports. Roth Capital reiterated a “buy” rating on shares of Accuray in a research report on Tuesday, February 13th. Roth Mkm initiated coverage on Accuray in a research report on Tuesday, February 13th. They set a “buy” rating and a $9.00 target price on the stock. Finally, TheStreet downgraded Accuray from a “c-” rating to a “d+” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.25.

Accuray Trading Up 1.4 %

Shares of ARAY opened at $2.22 on Tuesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.58 and a quick ratio of 0.84. Accuray Incorporated has a 1-year low of $2.10 and a 1-year high of $4.30. The stock has a market cap of $220.16 million, a price-to-earnings ratio of -14.80 and a beta of 1.44. The firm has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.63.

Accuray (NASDAQ:ARAY) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $107.24 million during the quarter, compared to analyst estimates of $107.11 million. Accuray had a negative return on equity of 28.11% and a negative net margin of 3.25%. During the same period last year, the firm earned ($0.02) earnings per share. Equities analysts forecast that Accuray Incorporated will post -0.07 EPS for the current fiscal 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, Australia, New Zealand, Europe, the Middle East, India, Africa, Japan, China, and rest of the Asia Pacific region. It offers the CyberKnife System, 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.