Royce & Associates LP Raises Stock Holdings in Profound Medical Corp. (NASDAQ:PROF)

Royce & Associates LP boosted its stake in Profound Medical Corp. (NASDAQ:PROF) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,799 shares of the company’s stock after purchasing an additional 195,501 shares during the quarter. Royce & Associates LP owned about 2.55% of Profound Medical worth $5,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PROF. Raymond James Financial Inc. bought a new position in shares of Profound Medical in the 4th quarter worth $6,577,000. MMCAP International Inc. SPC purchased a new position in Profound Medical in the fourth quarter worth $3,680,000. Ring Mountain Capital LLC bought a new position in Profound Medical in the fourth quarter valued at $2,087,000. Picton Mahoney Asset Management purchased a new stake in Profound Medical during the fourth quarter valued at about $1,879,000. Finally, Gagnon Securities LLC lifted its stake in Profound Medical by 12.6% during the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock worth $12,411,000 after purchasing an additional 185,284 shares during the last quarter. 47.86% of the stock is owned by hedge funds and other institutional investors.

Profound Medical Price Performance

Shares of Profound Medical stock opened at $6.89 on Thursday. The firm has a market capitalization of $206.98 million, a PE ratio of -5.14 and a beta of 0.78. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. Profound Medical Corp. has a 12 month low of $5.63 and a 12 month high of $11.42. The business’s 50-day moving average price is $6.90 and its 200-day moving average price is $7.45.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.11. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. The business had revenue of $4.18 million for the quarter, compared to analysts’ expectations of $5.92 million. Sell-side analysts forecast that Profound Medical Corp. will post -1.12 EPS 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.