RNC Capital Management LLC Sells 700 Shares of Accuray Inc. (ARAY)
RNC Capital Management LLC lowered its stake in shares of Accuray Inc. (NASDAQ:ARAY) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,325 shares of the company’s stock after selling 700 shares during the period. RNC Capital Management LLC’s holdings in Accuray were worth $173,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. BlackRock Group LTD raised its stake in shares of Accuray by 151.9% in the first quarter. BlackRock Group LTD now owns 36,736 shares of the company’s stock valued at $212,000 after buying an additional 22,155 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of Accuray during the first quarter valued at $303,000. Menta Capital LLC acquired a new stake in shares of Accuray during the first quarter valued at $577,000. Spark Investment Management LLC acquired a new stake in shares of Accuray during the first quarter valued at $924,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Accuray during the first quarter valued at $1,242,000. Institutional investors and hedge funds own 92.55% of the company’s stock.
Accuray Inc. (NASDAQ:ARAY) traded down 0.18% during trading on Friday, reaching $5.45. 1,799,801 shares of the company’s stock were exchanged. The firm’s market cap is $444.58 million. The stock’s 50 day moving average price is $5.43 and its 200 day moving average price is $5.42. Accuray Inc. has a 52-week low of $4.75 and a 52-week high of $7.54.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings results on Wednesday, August 17th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.02. The firm earned $95 million during the quarter, compared to analyst estimates of $98.97 million. Accuray had a negative net margin of 5.55% and a negative return on equity of 35.82%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) EPS. Equities research analysts anticipate that Accuray Inc. will post ($0.16) EPS for the current fiscal year.
Several analysts have recently weighed in on ARAY shares. Brean Capital reiterated a “buy” rating and set a $12.00 target price on shares of Accuray in a research report on Sunday, May 22nd. Morgan Stanley set a $8.00 target price on shares of Accuray and gave the company a “hold” rating in a research report on Thursday, August 18th. Finally, Cowen and Company started coverage on shares of Accuray in a research report on Tuesday, September 13th. They set an “outperform” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.55.
Accuray Company Profile
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures, sells and supports treatment solutions. Its suite of products includes the CyberKnife Systems and the TomoTherapy Systems. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy and adaptive radiation therapy.
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