Heartland Advisors Inc. Has $7.65 Million Stock Position in Accuray Incorporated (NASDAQ:ARAY)

Key Points

• Heartland Advisors Inc. has increased its stake in Accuray Incorporated by 11.8%, acquiring an additional 450,000 shares, bringing its total ownership to approximately 4.16% of the company, valued at $7,652,000.
• Analysts on Wall Street Zen upgraded Accuray from a "hold" to a "buy" rating, suggesting a positive outlook on its performance.
• Accuray's recent earnings report showed an EPS of ($0.01), exceeding expectations, with revenues of $113.24 million, surpassing analyst forecasts.

Heartland Advisors Inc. raised its stake in Accuray Incorporated (NASDAQ:ARAY - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,274,750 shares of the medical equipment provider's stock after buying an additional 450,000 shares during the quarter. Heartland Advisors Inc. owned 4.16% of Accuray worth $7,652,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. bought a new stake in Accuray in the fourth quarter worth approximately $35,000. Prudential Financial Inc. bought a new stake in Accuray in the 4th quarter valued at $43,000. ProShare Advisors LLC boosted its holdings in Accuray by 50.7% in the 4th quarter. ProShare Advisors LLC now owns 27,308 shares of the medical equipment provider's stock valued at $54,000 after purchasing an additional 9,187 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Accuray in the 4th quarter valued at $66,000. Finally, Gabelli Funds LLC raised its stake in shares of Accuray by 12.5% in 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. Institutional investors and hedge funds own 64.08% of the company's stock.

Wall Street Analysts Forecast Growth

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 Performance

Shares of ARAY stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.38. The company's stock had a trading volume of 134,894 shares, compared to its average volume of 755,091. Accuray Incorporated has a 1-year low of $1.14 and a 1-year high of $2.95. The company has a current ratio of 1.64, a quick ratio of 0.92 and a debt-to-equity ratio of 3.35. The firm's 50-day moving average is $1.39 and its two-hundred day moving average is $1.70.

Accuray (NASDAQ:ARAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. Accuray had a net margin of 0.14% and a return on equity of 1.43%. The company had revenue of $113.24 million during the quarter, compared to analysts' expectations of $101.53 million. As a group, sell-side analysts forecast 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.