Bank of New York Mellon Corp Has $2.90 Million Stake in Accuray Incorporated (ARAY)

Bank of New York Mellon Corp lowered its position in Accuray Incorporated (NASDAQ:ARAY) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 609,303 shares of the medical equipment provider’s stock after selling 31,202 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Accuray worth $2,895,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC grew its position in shares of Accuray by 1.1% in the 4th quarter. Teachers Advisors LLC now owns 123,098 shares of the medical equipment provider’s stock worth $566,000 after buying an additional 1,314 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Accuray by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 136,157 shares of the medical equipment provider’s stock worth $647,000 after purchasing an additional 1,619 shares during the last quarter. American International Group Inc. grew its position in Accuray by 7.1% during the 1st quarter. American International Group Inc. now owns 49,098 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 3,256 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Accuray by 1.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 413,032 shares of the medical equipment provider’s stock worth $1,962,000 after purchasing an additional 4,812 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in Accuray by 10.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 55,675 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 5,407 shares during the last quarter. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Accuray Incorporated (ARAY) opened at 4.25 on Wednesday. The firm’s 50-day moving average is $4.22 and its 200 day moving average is $4.35. The stock’s market cap is $353.51 million. Accuray Incorporated has a 52-week low of $3.60 and a 52-week high of $6.00.

Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.05). The firm had revenue of $112.09 million during the quarter, compared to analyst estimates of $112.00 million. Accuray had a negative net margin of 7.71% and a negative return on equity of 61.62%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. Analysts forecast that Accuray Incorporated will post ($0.20) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2017/10/11/bank-of-new-york-mellon-corp-has-2-90-million-stake-in-accuray-incorporated-aray.html.

Several research firms have weighed in on ARAY. Zacks Investment Research raised shares of Accuray from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Thursday, August 24th. Royal Bank Of Canada reissued a “hold” rating and set a $5.00 target price on shares of Accuray in a research report on Thursday, August 24th. Jefferies Group LLC dropped their target price on shares of Accuray from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Finally, BidaskClub downgraded shares of Accuray from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.00.

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Several other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC grew its position in shares of Accuray by 1.1% in the 4th quarter. Teachers Advisors LLC now owns 123,098 shares of the medical equipment provider’s stock worth $566,000 after buying an additional 1,314 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Accuray by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 136,157 shares of the medical equipment provider’s stock worth $647,000 after purchasing an additional 1,619 shares during the last quarter. American International Group Inc. grew its position in Accuray by 7.1% during the 1st quarter. American International Group Inc. now owns 49,098 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 3,256 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Accuray by 1.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 413,032 shares of the medical equipment provider’s stock worth $1,962,000 after purchasing an additional 4,812 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in Accuray by 10.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 55,675 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 5,407 shares during the last quarter. 76.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Accuray Incorporated (ARAY) opened at 4.25 on Wednesday. The firm’s 50-day moving average is $4.22 and its 200 day moving average is $4.35. The stock’s market cap is $353.51 million. Accuray Incorporated has a 52-week low of $3.60 and a 52-week high of $6.00.

Accuray (NASDAQ:ARAY) last issued its earnings results on Tuesday, August 22nd. The medical equipment provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.05). The firm had revenue of $112.09 million during the quarter, compared to analyst estimates of $112.00 million. Accuray had a negative net margin of 7.71% and a negative return on equity of 61.62%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. Analysts forecast that Accuray Incorporated will post ($0.20) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2017/10/11/bank-of-new-york-mellon-corp-has-2-90-million-stake-in-accuray-incorporated-aray.html.

Several research firms have weighed in on ARAY. Zacks Investment Research raised shares of Accuray from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. BTIG Research reissued a “hold” rating on shares of Accuray in a research report on Thursday, August 24th. Royal Bank Of Canada reissued a “hold” rating and set a $5.00 target price on shares of Accuray in a research report on Thursday, August 24th. Jefferies Group LLC dropped their target price on shares of Accuray from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 23rd. Finally, BidaskClub downgraded shares of Accuray from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.00.

In related news, COO Kelly Londy sold 99,136 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $4.24, for a total value of $420,336.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.91% of the stock is owned by company insiders.

Accuray Profile

Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy.

Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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