80,000 Shares in Profound Medical $PROF Acquired by CM Management LLC

CM Management LLC acquired a new position in shares of Profound Medical (NASDAQ:PROF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 80,000 shares of the company’s stock, valued at approximately $630,000.

A number of other hedge funds have also recently made changes to their positions in PROF. Royal Bank of Canada boosted its position in shares of Profound Medical by 3.5% during the 1st quarter. Royal Bank of Canada now owns 435,997 shares of the company’s stock worth $2,537,000 after purchasing an additional 14,795 shares during the period. Raymond James Financial Inc. boosted its position in shares of Profound Medical by 5.5% during the 2nd quarter. Raymond James Financial Inc. now owns 941,879 shares of the company’s stock worth $5,557,000 after purchasing an additional 49,000 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Profound Medical by 34.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 75,293 shares of the company’s stock worth $356,000 after purchasing an additional 19,220 shares during the period. MMCAP International Inc. SPC boosted its position in shares of Profound Medical by 2.0% during the 3rd quarter. MMCAP International Inc. SPC now owns 500,859 shares of the company’s stock worth $2,449,000 after purchasing an additional 10,000 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Profound Medical by 12.4% during the 3rd quarter. Royce & Associates LP now owns 859,906 shares of the company’s stock worth $4,202,000 after purchasing an additional 95,000 shares during the period. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Analyst Ratings Changes

PROF has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Profound Medical in a research report on Friday, March 27th. Lake Street Capital increased their price objective on shares of Profound Medical from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Profound Medical presently has a consensus rating of “Hold” and an average target price of $12.00.

Profound Medical Price Performance

Profound Medical stock opened at $6.86 on Friday. The firm has a market cap of $249.29 million, a PE ratio of -4.87 and a beta of 0.73. Profound Medical has a 52-week low of $3.76 and a 52-week high of $8.95. The company has a quick ratio of 11.17, a current ratio of 12.52 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $6.39 and its two-hundred day moving average is $6.72.

Profound Medical (NASDAQ:PROF) last released its earnings results on Thursday, March 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.27). The company had revenue of $5.98 million for the quarter, compared to analyst estimates of $10.53 million. Profound Medical had a negative net margin of 264.45% and a negative return on equity of 90.28%. On average, research analysts expect that Profound Medical will post -0.97 EPS for the current fiscal year.

Profound Medical Company Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.