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

Gagnon Securities LLC boosted its stake in shares of Profound Medical Corp. (NASDAQ:PROF) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,652,531 shares of the company’s stock after acquiring an additional 185,284 shares during the quarter. Profound Medical accounts for 2.5% of Gagnon Securities LLC’s holdings, making the stock its 17th largest position. Gagnon Securities LLC owned approximately 5.50% of Profound Medical worth $12,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Trust N.A. lifted its stake in Profound Medical by 14.3% during the 3rd 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 in the last quarter. K2 Principal Fund L.P. acquired a new position in Profound Medical in the 3rd quarter valued at $398,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Profound Medical during the 3rd quarter worth $612,000. Thompson Davis & CO. Inc. grew its stake in Profound Medical by 36.2% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock valued at $811,000 after acquiring an additional 27,100 shares during the last quarter. Finally, Royce & Associates LP grew its stake in Profound Medical by 0.6% in the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock valued at $4,529,000 after acquiring an additional 3,500 shares during the last quarter. 47.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Profound Medical Trading Up 0.6 %

Shares of NASDAQ PROF opened at $6.45 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. The business has a 50 day simple moving average of $7.43 and a 200 day simple moving average of $8.14. Profound Medical Corp. has a 52 week low of $6.22 and a 52 week high of $11.42.

Profound Medical (NASDAQ:PROF) last announced its earnings results on Thursday, November 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.05). The business had revenue of $2.83 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($0.26) EPS. As a group, sell-side analysts forecast that Profound Medical Corp. will post -1.15 earnings per share for the current fiscal year.

Profound Medical 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.