Picton Mahoney Asset Management Buys New Stake in Profound Medical Corp. (NASDAQ:PROF)

Picton Mahoney Asset Management bought a new stake in Profound Medical Corp. (NASDAQ:PROF) in the 4th quarter, Holdings Channel.com reports. The fund bought 250,000 shares of the company’s stock, valued at approximately $1,879,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Profound Medical in the 3rd quarter valued at approximately $612,000. Gagnon Securities LLC increased its holdings in Profound Medical by 12.6% in the 4th quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock valued at $12,411,000 after purchasing an additional 185,284 shares during the last quarter. Gagnon Advisors LLC boosted its position in Profound Medical by 20.0% in the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock valued at $6,734,000 after buying an additional 149,445 shares during the period. Truist Financial Corp purchased a new position in Profound Medical in the 4th quarter valued at approximately $376,000. Finally, Ring Mountain Capital LLC purchased a new position in Profound Medical in the 4th quarter valued at approximately $2,087,000. Institutional investors and hedge funds own 47.86% of the company’s stock.

Profound Medical Stock Performance

Shares of PROF stock opened at $6.95 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 52 week low of $5.63 and a 52 week high of $11.42. The stock has a market capitalization of $208.78 million, a PE ratio of -5.19 and a beta of 0.78. The firm has a 50 day moving average of $6.96 and a two-hundred day moving average of $7.50.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.18 million during the quarter, compared to analysts’ expectations of $5.92 million. On average, research analysts predict 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.