Profound Medical Corp. (NASDAQ:PROF) Position Reduced by MTM Investment Management LLC

MTM Investment Management LLC reduced its holdings in Profound Medical Corp. (NASDAQ:PROF) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,825 shares of the company’s stock after selling 2,050 shares during the period. MTM Investment Management LLC owned about 0.07% of Profound Medical worth $132,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Profound Medical during the third quarter worth $612,000. Thompson Davis & CO. Inc. increased its position in Profound Medical by 36.2% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock worth $811,000 after purchasing an additional 27,100 shares during the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Profound Medical during the 2nd quarter worth about $88,000. Finally, Royce & Associates LP lifted its holdings in shares of Profound Medical by 0.6% during the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock valued at $4,529,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 47.86% of the company’s stock.

Profound Medical Stock Performance

PROF opened at $7.83 on Wednesday. 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 cap of $193.10 million, a PE ratio of -5.84 and a beta of 0.83. The stock has a 50-day moving average of $7.76 and a 200-day moving average of $8.47. Profound Medical Corp. has a 52-week low of $7.11 and a 52-week high of $11.69.

Analysts Set New Price Targets

PROF has been the topic of a number of research reports. Raymond James upgraded Profound Medical to a “strong-buy” rating in a report on Saturday, November 9th. Lake Street Capital started coverage on shares of Profound Medical in a research note on Tuesday, July 23rd. They set a “buy” rating and a $16.50 price target on the stock.

Profound Medical Company 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.