Profound Medical $PROF Shares Purchased by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. grew its position in shares of Profound Medical (NASDAQ:PROF) by 32.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 270,520 shares of the company’s stock after acquiring an additional 66,670 shares during the quarter. Profound Medical comprises about 0.7% of Thompson Davis & CO. Inc.’s investment portfolio, making the stock its 22nd largest holding. Thompson Davis & CO. Inc. owned about 0.90% of Profound Medical worth $1,596,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PROF. First Eagle Investment Management LLC bought a new stake in Profound Medical in the 2nd quarter valued at about $720,000. Timelo Investment Management Inc. boosted its position in shares of Profound Medical by 8.7% during the first quarter. Timelo Investment Management Inc. now owns 990,995 shares of the company’s stock worth $5,768,000 after buying an additional 79,234 shares during the period. Gagnon Securities LLC grew its holdings in Profound Medical by 3.1% in the 2nd quarter. Gagnon Securities LLC now owns 1,749,913 shares of the company’s stock worth $10,324,000 after buying an additional 52,233 shares in the last quarter. Ring Mountain Capital LLC grew its holdings in Profound Medical by 16.8% in the 2nd quarter. Ring Mountain Capital LLC now owns 358,420 shares of the company’s stock worth $2,021,000 after buying an additional 51,463 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Profound Medical by 2.0% in the 1st quarter. Raymond James Financial Inc. now owns 892,879 shares of the company’s stock valued at $5,197,000 after acquiring an additional 17,170 shares during the period. Institutional investors and hedge funds own 47.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Profound Medical in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.00.

Profound Medical Price Performance

Shares of NASDAQ PROF opened at $6.27 on Thursday. The firm has a 50-day moving average of $5.33 and a two-hundred day moving average of $5.40. The company has a market capitalization of $189.29 million, a price-to-earnings ratio of -4.28 and a beta of 0.67. The company has a current ratio of 8.53, a quick ratio of 7.07 and a debt-to-equity ratio of 0.11. Profound Medical has a twelve month low of $3.76 and a twelve month high of $8.75.

Profound Medical (NASDAQ:PROF) last issued its earnings results on Thursday, August 14th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.09). The business had revenue of $2.21 million for the quarter, compared to the consensus estimate of $4.75 million. Profound Medical had a negative return on equity of 89.74% and a negative net margin of 343.97%. As a group, analysts expect that Profound Medical will post -1.12 earnings per share for the current fiscal year.

About Profound Medical

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.