Mackenzie Financial Corp Boosts Stake in Accuray Incorporated (NASDAQ:ARAY)

Key Points

• Mackenzie Financial Corp increased its holdings in Accuray Incorporated by 168.8% in the first quarter, owning 733,347 shares valued at approximately $1.31 million.
• Accuray has seen other hedge funds, such as Renaissance Technologies LLC and Two Sigma Advisers LP, also enhance their stakes during the fourth quarter, indicating growing institutional interest.
• Accuray was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive analyst sentiment toward the company's stock performance.

Mackenzie Financial Corp lifted its holdings in Accuray Incorporated (NASDAQ:ARAY - Free Report) by 168.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 733,347 shares of the medical equipment provider's stock after purchasing an additional 460,501 shares during the quarter. Mackenzie Financial Corp owned 0.71% of Accuray worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Accuray by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,186,154 shares of the medical equipment provider's stock worth $4,329,000 after purchasing an additional 6,758 shares during the last quarter. Northern Trust Corp raised its stake in shares of Accuray by 0.9% in the fourth quarter. Northern Trust Corp now owns 809,665 shares of the medical equipment provider's stock worth $1,603,000 after purchasing an additional 7,399 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Accuray in the fourth quarter worth $35,000. Renaissance Technologies LLC raised its stake in shares of 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 purchasing an additional 189,414 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Accuray by 41.9% in the fourth quarter. Two Sigma Advisers LP now owns 70,513 shares of the medical equipment provider's stock worth $140,000 after purchasing an additional 20,813 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 Accuray from a "hold" rating to a "buy" rating in a research report on Friday, May 30th.

Accuray Stock Performance

Accuray stock opened at $1.29 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 0.92 and a debt-to-equity ratio of 3.35. Accuray Incorporated has a one year low of $1.14 and a one year high of $2.95. The stock has a fifty day moving average of $1.37 and a 200 day moving average of $1.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.