Royce & Associates LP Acquires 95,000 Shares of Profound Medical $PROF

Royce & Associates LP boosted its stake in shares of Profound Medical (NASDAQ:PROF) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 859,906 shares of the company’s stock after buying an additional 95,000 shares during the period. Royce & Associates LP’s holdings in Profound Medical were worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PROF. Raymond James Financial Inc. raised its position in shares of Profound Medical by 5.5% in the 2nd quarter. Raymond James Financial Inc. now owns 941,879 shares of the company’s stock worth $5,557,000 after acquiring an additional 49,000 shares in the last quarter. MMCAP International Inc. SPC boosted its position in Profound Medical by 2.0% during the third quarter. MMCAP International Inc. SPC now owns 500,859 shares of the company’s stock valued at $2,449,000 after purchasing an additional 10,000 shares in the last quarter. Royal Bank of Canada grew its stake in Profound Medical by 3.5% in the first quarter. Royal Bank of Canada now owns 435,997 shares of the company’s stock valued at $2,537,000 after purchasing an additional 14,795 shares during the last quarter. Ardsley Advisory Partners LP raised its holdings in Profound Medical by 11.9% in the second quarter. Ardsley Advisory Partners LP now owns 330,000 shares of the company’s stock worth $1,947,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Thompson Davis & CO. Inc. raised its holdings in Profound Medical by 32.7% in the second quarter. Thompson Davis & CO. Inc. now owns 270,520 shares of the company’s stock worth $1,596,000 after purchasing an additional 66,670 shares in the last quarter. Institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Performance

Shares of PROF stock opened at $7.49 on Friday. Profound Medical has a fifty-two week low of $3.76 and a fifty-two week high of $8.95. The firm has a market capitalization of $271.84 million, a price-to-earnings ratio of -5.59 and a beta of 0.62. The stock’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $6.33.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PROF. Lake Street Capital raised their price target on shares of Profound Medical from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Profound Medical in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Profound Medical from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Profound Medical currently has a consensus rating of “Hold” and an average target price of $12.00.

Profound Medical Company Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.