Profound Medical Corp. (NASDAQ:PROF) Shares Purchased by Gagnon Securities LLC

Gagnon Securities LLC grew its position in Profound Medical Corp. (NASDAQ:PROF) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,652,531 shares of the company’s stock after acquiring an additional 185,284 shares during the period. Profound Medical comprises approximately 2.5% of Gagnon Securities LLC’s investment portfolio, making the stock its 17th biggest position. Gagnon Securities LLC owned approximately 0.06% of Profound Medical worth $12,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. K2 Principal Fund L.P. acquired a new stake in shares of Profound Medical during the third quarter worth about $398,000. Raymond James Trust N.A. increased its stake in shares of Profound Medical by 14.3% during the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock worth $96,000 after acquiring an additional 1,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Profound Medical during the 3rd quarter worth $612,000. Thompson Davis & CO. Inc. grew its holdings in shares of 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 acquiring an additional 27,100 shares during the period. Finally, Royce & Associates LP raised its position in Profound Medical by 0.6% during the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after acquiring an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Profound Medical Trading Up 0.6 %

Shares of Profound Medical stock opened at $6.45 on Friday. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. Profound Medical Corp. has a 12 month low of $6.22 and a 12 month high of $11.42. The business has a fifty day simple moving average of $7.43 and a 200-day simple moving average of $8.14.

Profound Medical (NASDAQ:PROF) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.05). The business had revenue of $2.83 million during the quarter, compared to analyst estimates of $3.30 million. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. During the same period last year, the company earned ($0.26) EPS. Equities analysts predict that Profound Medical Corp. will post -1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.