Letko Brosseau & Associates Inc. Has $8.69 Million Stake in Profound Medical Corp. (NASDAQ:PROF)

Letko Brosseau & Associates Inc. lifted its position in Profound Medical Corp. (NASDAQ:PROF) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,211,150 shares of the company’s stock after buying an additional 12,375 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Profound Medical were worth $8,689,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in shares of Profound Medical in the 4th quarter valued at about $114,000. MTM Investment Management LLC lifted its position in shares of Profound Medical by 10.4% during the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after buying an additional 1,750 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Profound Medical by 201.6% during the fourth quarter. Marshall Wace LLP now owns 36,216 shares of the company’s stock worth $272,000 after buying an additional 24,208 shares in the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Profound Medical by 94.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company’s stock worth $346,000 after acquiring an additional 22,500 shares during the last quarter. Finally, Truist Financial Corp bought a new stake in Profound Medical in the fourth quarter valued at approximately $376,000. Institutional investors own 47.86% of the company’s stock.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price target 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 Stock Performance

NASDAQ:PROF opened at $4.63 on Monday. Profound Medical Corp. has a 1 year low of $3.90 and a 1 year high of $11.42. The company has a market capitalization of $139.15 million, a P/E ratio of -3.46 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. The business has a fifty day simple moving average of $5.58 and a two-hundred day simple moving average of $6.73.

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

Profound Medical 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.