Mackenzie Financial Corp Buys 250,539 Shares of Accuray Incorporated (NASDAQ:ARAY)

Mackenzie Financial Corp boosted its position in Accuray Incorporated (NASDAQ:ARAY - Free Report) by 1,123.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 272,846 shares of the medical equipment provider's stock after purchasing an additional 250,539 shares during the quarter. Mackenzie Financial Corp owned approximately 0.27% of Accuray worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heartland Advisors Inc. lifted its holdings in shares of Accuray by 14.1% during the fourth quarter. Heartland Advisors Inc. now owns 3,824,750 shares of the medical equipment provider's stock valued at $7,573,000 after purchasing an additional 472,800 shares during the last quarter. JPMorgan Chase & Co. increased its position in Accuray by 482.4% during the 4th quarter. JPMorgan Chase & Co. now owns 242,713 shares of the medical equipment provider's stock valued at $481,000 after buying an additional 201,037 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Accuray by 6.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,979,998 shares of the medical equipment provider's stock worth $5,900,000 after acquiring an additional 189,414 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Accuray in the fourth quarter worth $300,000. Finally, Archon Capital Management LLC grew its stake in shares of Accuray by 11.5% in the fourth quarter. Archon Capital Management LLC now owns 888,662 shares of the medical equipment provider's stock worth $1,760,000 after acquiring an additional 91,796 shares during the last quarter. Hedge funds and other institutional investors own 64.08% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Accuray from a "hold" rating to a "buy" rating in a research note on Friday, May 30th.

Accuray Stock Down 3.5%

Shares of NASDAQ ARAY traded down $0.06 during midday trading on Thursday, hitting $1.54. The stock had a trading volume of 347,831 shares, compared to its average volume of 674,948. The business's 50 day moving average is $1.56 and its 200-day moving average is $1.88. Accuray Incorporated has a 52 week low of $1.28 and a 52 week high of $2.95. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 3.51. The company has a market cap of $158.12 million, a P/E ratio of -30.70 and a beta of 1.30.

Accuray (NASDAQ:ARAY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $113.24 million for the quarter, compared to analysts' expectations of $101.53 million. Accuray had a negative return on equity of 9.75% and a negative net margin of 0.96%. As a group, analysts predict that Accuray Incorporated will post 0.01 EPS for the current year.

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.