Primecap Management Co. CA Sells 10,300 Shares of Accuray Incorporated (NASDAQ:ARAY)

Primecap Management Co. CA lowered its stake in shares of Accuray Incorporated (NASDAQ:ARAY) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,300 shares of the medical equipment provider’s stock after selling 10,300 shares during the period. Primecap Management Co. CA owned 0.16% of Accuray worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ARAY. Caprock Group LLC purchased a new position in Accuray during the third quarter valued at $36,000. Intech Investment Management LLC purchased a new position in shares of Accuray during the third quarter valued at about $41,000. Thrivent Financial for Lutherans purchased a new position in shares of Accuray during the third quarter valued at about $57,000. SG Americas Securities LLC increased its holdings in shares of Accuray by 37.4% in the fourth quarter. SG Americas Securities LLC now owns 45,079 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 12,259 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Accuray in the third quarter worth about $231,000. Hedge funds and other institutional investors own 64.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Accuray from a “hold” rating to a “buy” rating in a report on Saturday, March 15th.

Accuray Trading Up 2.7 %

Shares of ARAY opened at $1.87 on Thursday. The stock has a market capitalization of $192.29 million, a PE ratio of -37.40 and a beta of 1.46. The company’s fifty day moving average is $2.14 and its 200 day moving average is $2.00. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.88 and a current ratio of 1.62. Accuray Incorporated has a fifty-two week low of $1.40 and a fifty-two week high of $2.95.

Accuray (NASDAQ:ARAY) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Accuray had a negative net margin of 0.96% and a negative return on equity of 9.75%. Sell-side analysts expect that Accuray Incorporated will post 0.01 earnings per share for the current fiscal year.

About Accuray

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.