Kovack Advisors Inc. Buys 576,250 Shares of Accuray Incorporated (NASDAQ:ARAY)


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Kovack Advisors Inc. lifted its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 2,065.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 604,150 shares of the medical equipment provider’s stock after purchasing an additional 576,250 shares during the period. Kovack Advisors Inc. owned 0.66% of Accuray worth $2,519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ARAY. Assenagon Asset Management S.A. increased its position in shares of Accuray by 724.1% in the third quarter. Assenagon Asset Management S.A. now owns 618,073 shares of the medical equipment provider’s stock worth $1,483,000 after purchasing an additional 543,073 shares during the last quarter. Acadian Asset Management LLC raised its position in Accuray by 33.0% during the third quarter. Acadian Asset Management LLC now owns 1,083,865 shares of the medical equipment provider’s stock valued at $2,601,000 after purchasing an additional 268,694 shares in the last quarter. BlackRock Inc. lifted its stake in Accuray by 3.4% during the third quarter. BlackRock Inc. now owns 6,833,724 shares of the medical equipment provider’s stock worth $16,401,000 after purchasing an additional 224,888 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Accuray by 217.8% during the third quarter. Squarepoint Ops LLC now owns 257,321 shares of the medical equipment provider’s stock worth $618,000 after purchasing an additional 176,353 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Accuray by 105.0% in the 3rd quarter. AQR Capital Management LLC now owns 192,849 shares of the medical equipment provider’s stock worth $463,000 after purchasing an additional 98,786 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

ARAY has been the subject of a number of recent research reports. Zacks Investment Research upgraded Accuray from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Wednesday, November 4th. Northland Securities started coverage on shares of Accuray in a research note on Thursday, January 7th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Accuray currently has an average rating of “Buy” and a consensus price target of $7.00.

In related news, SVP Suzanne C. Winter sold 23,740 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $3.02, for a total value of $71,694.80. Following the sale, the senior vice president now directly owns 351,260 shares of the company’s stock, valued at $1,060,805.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph E. Whitters purchased 50,000 shares of Accuray stock in a transaction that occurred on Wednesday, November 11th. The shares were acquired at an average price of $3.46 per share, for a total transaction of $173,000.00. Following the acquisition, the director now owns 243,078 shares in the company, valued at $841,049.88. The disclosure for this purchase can be found here. In the last three months, insiders have sold 50,626 shares of company stock valued at $170,153. Insiders own 4.00% of the company’s stock.

ARAY traded up $0.01 on Thursday, hitting $4.88. 4,121 shares of the company were exchanged, compared to its average volume of 866,101. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.13 and a current ratio of 1.97. The firm has a fifty day simple moving average of $4.44 and a two-hundred day simple moving average of $3.09. The stock has a market capitalization of $445.42 million, a PE ratio of 34.79 and a beta of 2.06. Accuray Incorporated has a 12 month low of $1.33 and a 12 month high of $5.10.

Accuray Profile

Accuray Incorporated designs, develops, and sells radiosurgery and radiation therapy systems for the treatment of tumors in the body in the Americas, Europe, the Middle East, India, Japan, Africa, and rest of the Asia Pacific region. The company offers the CyberKnife System, a robotic stereotactic radiosurgery and stereotactic body radiation therapy system used for the treatment of various types of cancer and tumors in the body.

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Institutional Ownership by Quarter for Accuray (NASDAQ:ARAY)

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