Lapides Asset Management LLC Lowers Stake in Accuray Incorporated (NASDAQ:ARAY)

Lapides Asset Management LLC lowered its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 28.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 996,600 shares of the medical equipment provider’s stock after selling 403,300 shares during the period. Lapides Asset Management LLC owned approximately 1.10% of Accuray worth $2,023,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in Accuray during the 1st quarter valued at $29,000. US Bancorp DE boosted its stake in Accuray by 950.0% during the 1st quarter. US Bancorp DE now owns 15,750 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 14,250 shares during the last quarter. Diversified Trust Co bought a new position in Accuray during the 2nd quarter valued at $31,000. Mackenzie Financial Corp bought a new position in Accuray during the 1st quarter valued at $40,000. Finally, Royal Bank of Canada boosted its stake in Accuray by 619,575.0% during the 1st quarter. Royal Bank of Canada now owns 24,787 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 24,783 shares during the last quarter. 72.19% of the stock is owned by hedge funds and other institutional investors.

ARAY stock traded down $0.04 during trading on Friday, hitting $2.23. 433,093 shares of the company traded hands, compared to its average volume of 443,745. The firm has a market capitalization of $201.85 million, a PE ratio of 111.56 and a beta of 2.03. Accuray Incorporated has a 1 year low of $1.33 and a 1 year high of $4.68. The company has a 50-day moving average of $2.19 and a 200-day moving average of $2.44. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.20 and a current ratio of 1.95.

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

About Accuray

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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Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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