Foundry Partners LLC Cuts Stake in Accuray Incorporated (NASDAQ:ARAY)

Foundry Partners LLC decreased its holdings in shares of Accuray Incorporated (NASDAQ:ARAY - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,795,645 shares of the medical equipment provider's stock after selling 387,770 shares during the quarter. Foundry Partners LLC owned 1.75% of Accuray worth $3,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new stake in Accuray in the 4th quarter valued at $35,000. Prudential Financial Inc. bought a new stake in shares of Accuray during the 4th quarter valued at about $43,000. ProShare Advisors LLC boosted its position in shares of Accuray by 50.7% during the 4th quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider's stock valued at $54,000 after acquiring an additional 9,187 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Accuray during the 4th quarter valued at about $66,000. Finally, Gabelli Funds LLC raised its holdings in shares of Accuray by 12.5% during the 4th quarter. Gabelli Funds LLC now owns 45,000 shares of the medical equipment provider's stock valued at $89,000 after buying an additional 5,000 shares in the last quarter. 64.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Accuray Stock Performance

Shares of ARAY stock traded up $0.05 during mid-day trading on Wednesday, hitting $1.41. 376,151 shares of the company's stock were exchanged, compared to its average volume of 777,031. The stock has a 50-day simple moving average of $1.41 and a two-hundred day simple moving average of $1.73. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.64 and a quick ratio of 0.92. Accuray Incorporated has a fifty-two week low of $1.14 and a fifty-two week high of $2.95.

Accuray (NASDAQ:ARAY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. The company had revenue of $113.24 million for the quarter, compared to analysts' expectations of $101.53 million. Accuray had a return on equity of 1.43% and a net margin of 0.14%. As a group, analysts predict that Accuray Incorporated will post 0.01 earnings per share for the current fiscal 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.