Northwest & Ethical Investments L.P. Acquires 22,500 Shares of Profound Medical Corp. (NASDAQ:PROF)

Northwest & Ethical Investments L.P. raised its position in Profound Medical Corp. (NASDAQ:PROF) by 94.9% in the 4th quarter, Holdings Channel reports. The firm owned 46,200 shares of the company’s stock after buying an additional 22,500 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Profound Medical were worth $346,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Raymond James Trust N.A. increased its stake 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 purchasing an additional 1,500 shares in the last quarter. MTM Investment Management LLC increased its stake 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 purchasing an additional 1,750 shares in the last quarter. Vestcor Inc bought a new stake in Profound Medical in the fourth quarter valued at approximately $376,000. Truist Financial Corp bought a new stake in Profound Medical in the fourth quarter valued at approximately $376,000. Finally, K2 Principal Fund L.P. bought a new stake in Profound Medical in the third quarter valued at approximately $398,000. Institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Down 1.9 %

Shares of NASDAQ:PROF opened at $6.81 on Friday. Profound Medical Corp. has a 52 week low of $5.63 and a 52 week high of $11.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12. The company has a market capitalization of $204.57 million, a PE ratio of -5.08 and a beta of 0.78. The company has a 50 day moving average price of $6.87 and a two-hundred day moving average price of $7.43.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.11. The company had revenue of $4.18 million during the quarter, compared to analysts’ expectations of $5.92 million. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. Analysts forecast 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.