277,859 Shares in Profound Medical Corp. (NASDAQ:PROF) Purchased by Ring Mountain Capital LLC

Ring Mountain Capital LLC purchased a new position in shares of Profound Medical Corp. (NASDAQ:PROF) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 277,859 shares of the company’s stock, valued at approximately $2,087,000. Profound Medical accounts for approximately 1.4% of Ring Mountain Capital LLC’s investment portfolio, making the stock its 17th largest holding.

Several other large investors have also recently added to or reduced their stakes in PROF. Raymond James Trust N.A. increased its holdings in Profound Medical by 14.3% in the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock valued at $96,000 after buying an additional 1,500 shares in the last quarter. MTM Investment Management LLC increased its holdings in Profound Medical by 10.4% in the fourth quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock valued at $139,000 after buying an additional 1,750 shares in the last quarter. Truist Financial Corp purchased a new position in Profound Medical in the fourth quarter valued at about $376,000. K2 Principal Fund L.P. purchased a new position in Profound Medical in the third quarter valued at about $398,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Profound Medical in the third quarter valued at approximately $612,000. 47.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded shares of Profound Medical to a “strong-buy” rating in a research report on Saturday, November 9th.

Profound Medical Stock Up 0.9 %

Shares of NASDAQ PROF opened at $6.99 on Tuesday. Profound Medical Corp. has a 1 year low of $5.63 and a 1 year high of $11.42. The firm’s 50 day moving average price is $7.01 and its 200 day moving average price is $7.63. The firm has a market cap of $209.98 million, a P/E ratio of -5.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12.

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.