Stonepine Capital Management LLC Invests $1.50 Million in Profound Medical Corp. (NASDAQ:PROF)

Stonepine Capital Management LLC bought a new position in shares of Profound Medical Corp. (NASDAQ:PROF) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $1,502,000. Profound Medical makes up about 1.2% of Stonepine Capital Management LLC’s holdings, making the stock its 24th biggest holding.

A number of other large investors have also modified their holdings of the business. FIL Ltd grew its holdings in shares of Profound Medical by 16.9% during the fourth quarter. FIL Ltd now owns 1,795,000 shares of the company’s stock worth $13,486,000 after buying an additional 260,000 shares in the last quarter. Gagnon Securities LLC grew its holdings in shares of Profound Medical by 12.6% during the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock worth $12,411,000 after buying an additional 185,284 shares in the last quarter. Letko Brosseau & Associates Inc. grew its holdings in shares of Profound Medical by 1.0% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,211,150 shares of the company’s stock worth $8,689,000 after buying an additional 12,375 shares in the last quarter. Timelo Investment Management Inc. grew its holdings in shares of Profound Medical by 21.3% during the fourth quarter. Timelo Investment Management Inc. now owns 911,761 shares of the company’s stock worth $6,847,000 after buying an additional 159,954 shares in the last quarter. Finally, Gagnon Advisors LLC grew its holdings in shares of Profound Medical by 20.0% during the fourth quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock worth $6,734,000 after buying an additional 149,445 shares in the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Profound Medical Trading Up 4.0%

Shares of PROF opened at $4.71 on Friday. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. Profound Medical Corp. has a 12-month low of $3.90 and a 12-month high of $11.42. The firm has a 50-day moving average price of $5.31 and a 200 day moving average price of $6.63. The firm has a market capitalization of $141.55 million, a P/E ratio of -3.51 and a beta of 0.44.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. The firm had revenue of $2.62 million during the quarter, compared to analysts’ expectations of $4.78 million. Sell-side analysts forecast that Profound Medical Corp. will post -1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PROF shares. Raymond James lowered shares of Profound Medical from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 9th. Lake Street Capital dropped their price objective on shares of Profound Medical from $17.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.