Rosalind Advisors Inc. Cuts Position in Profound Medical Corp. (NASDAQ:PROF)

Rosalind Advisors Inc. lowered its position in Profound Medical Corp. (NASDAQ:PROF) by 8.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,973 shares of the company’s stock after selling 47,360 shares during the quarter. Profound Medical makes up about 2.4% of Rosalind Advisors Inc.’s holdings, making the stock its 14th biggest holding. Rosalind Advisors Inc. owned about 1.97% of Profound Medical worth $3,868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Trust N.A. purchased a new stake in shares of Profound Medical during the 2nd quarter worth $88,000. Thompson Davis & CO. Inc. lifted its holdings in Profound Medical by 9.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock worth $628,000 after buying an additional 6,150 shares during the last quarter. Finally, Gagnon Advisors LLC boosted its position in shares of Profound Medical by 10.0% during the 1st quarter. Gagnon Advisors LLC now owns 747,226 shares of the company’s stock worth $6,374,000 after acquiring an additional 67,930 shares in the last quarter. Institutional investors and hedge funds own 47.86% of the company’s stock.

Profound Medical Stock Performance

NASDAQ PROF opened at $7.91 on Wednesday. The company has a current ratio of 8.61, a quick ratio of 7.42 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $7.88 and its two-hundred day moving average is $8.44. The stock has a market capitalization of $195.06 million, a price-to-earnings ratio of -6.48 and a beta of 0.83. Profound Medical Corp. has a 12-month low of $7.11 and a 12-month high of $11.69.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). The firm had revenue of $2.23 million during the quarter, compared to analysts’ expectations of $2.50 million. Profound Medical had a negative return on equity of 71.28% and a negative net margin of 350.14%. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Research analysts expect that Profound Medical Corp. will post -1.19 EPS for the current year.

Analyst Ratings Changes

PROF has been the subject of several recent analyst reports. Lake Street Capital initiated coverage on shares of Profound Medical in a research report on Tuesday, July 23rd. They set a “buy” rating and a $16.50 price objective for the company. Stifel Nicolaus upgraded shares of Profound Medical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $12.00 in a research note on Tuesday, July 16th.

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.