Quantitative Systematic Strategies LLC Sells 42,215 Shares of Accuray Incorporated (ARAY)
Quantitative Systematic Strategies LLC trimmed its holdings in shares of Accuray Incorporated (NASDAQ:ARAY) by 74.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,762 shares of the medical equipment provider’s stock after selling 42,215 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Accuray were worth $70,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ARAY. Norges Bank purchased a new position in shares of Accuray during the fourth quarter valued at approximately $3,287,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of Accuray by 58.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,015,496 shares of the medical equipment provider’s stock valued at $6,873,000 after purchasing an additional 741,493 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Accuray during the third quarter valued at approximately $2,444,000. Millennium Management LLC lifted its holdings in shares of Accuray by 59.7% during the fourth quarter. Millennium Management LLC now owns 1,257,268 shares of the medical equipment provider’s stock valued at $4,287,000 after purchasing an additional 470,087 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Accuray by 8.6% during the third quarter. Renaissance Technologies LLC now owns 5,312,623 shares of the medical equipment provider’s stock valued at $23,907,000 after purchasing an additional 422,023 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.
A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Accuray from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Zacks Investment Research lowered shares of Accuray from a “buy” rating to a “hold” rating in a report on Friday, February 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Accuray presently has an average rating of “Hold” and an average price target of $5.13.
Accuray (NASDAQ:ARAY) last announced its quarterly earnings data on Tuesday, January 22nd. The medical equipment provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Accuray had a negative net margin of 5.74% and a negative return on equity of 42.74%. The company had revenue of $102.32 million during the quarter, compared to analyst estimates of $104.01 million. During the same period in the previous year, the business earned ($0.06) EPS. Sell-side analysts expect that Accuray Incorporated will post -0.16 earnings per share for the current fiscal year.
In related news, CEO Joshua Levine sold 6,604 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $4.54, for a total value of $29,982.16. Following the completion of the transaction, the chief executive officer now directly owns 1,033,593 shares in the company, valued at approximately $4,692,512.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.
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Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.
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