Wellington Management Group LLP Invests $323,000 in Accuray Incorporated (NASDAQ:ARAY)

Wellington Management Group LLP acquired a new position in Accuray Incorporated (NASDAQ:ARAY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 170,000 shares of the medical equipment provider’s stock, valued at approximately $323,000. Wellington Management Group LLP owned about 0.19% of Accuray as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. KBC Group NV acquired a new stake in Accuray in the 4th quarter worth approximately $92,000. State Street Corp boosted its stake in Accuray by 4.5% in the 1st quarter. State Street Corp now owns 1,672,496 shares of the medical equipment provider’s stock worth $3,178,000 after purchasing an additional 72,267 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Accuray by 106.0% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 31,423 shares of the medical equipment provider’s stock worth $60,000 after purchasing an additional 16,166 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Accuray by 316.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,043,822 shares of the medical equipment provider’s stock worth $3,883,000 after purchasing an additional 1,552,850 shares in the last quarter. Finally, UBS Group AG boosted its stake in Accuray by 9.2% in the 4th quarter. UBS Group AG now owns 614,682 shares of the medical equipment provider’s stock worth $1,733,000 after purchasing an additional 51,825 shares in the last quarter. 72.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ARAY opened at $2.03 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.20 and a debt-to-equity ratio of 3.62. The company has a 50 day simple moving average of $2.18 and a two-hundred day simple moving average of $2.53. Accuray Incorporated has a 12 month low of $1.33 and a 12 month high of $4.68. The stock has a market cap of $199.14 million, a price-to-earnings ratio of 101.55 and a beta of 1.99.

Accuray (NASDAQ:ARAY) last posted its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. Accuray had a net margin of 0.64% and a negative return on equity of 14.83%. The firm had revenue of $99.55 million during the quarter, compared to analysts’ expectations of $96.46 million. Analysts forecast that Accuray Incorporated will post -0.09 EPS for the current year.

A number of analysts recently commented on ARAY shares. BTIG Research reiterated a “buy” rating and issued a $6.00 target price on shares of Accuray in a research note on Wednesday, June 17th. Lake Street Capital restated a “buy” rating and set a $10.00 price objective on shares of Accuray in a research note on Sunday, June 21st. BidaskClub cut shares of Accuray from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 10th. ValuEngine upgraded shares of Accuray from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Finally, Cowen restated an “average” rating and set a $8.00 price objective on shares of Accuray in a research note on Sunday, June 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.00.

Accuray Profile

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.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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