Los Angeles Capital Management LLC Invests $418,000 in Accuray Incorporated (NASDAQ:ARAY)

Los Angeles Capital Management LLC acquired a new stake in Accuray Incorporated (NASDAQ:ARAY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 232,218 shares of the medical equipment provider’s stock, valued at approximately $418,000. Los Angeles Capital Management LLC owned about 0.23% of Accuray at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Accuray by 253,483.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 15,215 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 15,209 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Accuray during the second quarter worth $30,000. US Bancorp DE raised its stake in shares of Accuray by 1,087.7% in the third quarter. US Bancorp DE now owns 17,816 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 16,316 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Accuray in the third quarter valued at $59,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Accuray by 6,480.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 35,007 shares of the medical equipment provider’s stock worth $64,000 after purchasing an additional 34,475 shares during the last quarter. 64.08% of the stock is currently owned by hedge funds and other institutional investors.

Accuray Stock Performance

Shares of Accuray stock opened at $1.70 on Monday. The firm has a market cap of $170.97 million, a PE ratio of -10.00 and a beta of 1.40. The firm’s 50-day simple moving average is $1.86 and its 200-day simple 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 Incorporated has a 1 year low of $1.40 and a 1 year high of $3.05.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $98.10 million. Accuray had a negative net margin of 3.72% and a negative return on equity of 36.93%. During the same quarter in the prior year, the firm earned ($0.03) EPS. Equities analysts forecast that Accuray Incorporated will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered Accuray from a “buy” rating to a “hold” rating in a report on Friday.

Accuray Company 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.