Royce & Associates LP Acquires 130,442 Shares of Profound Medical $PROF

Royce & Associates LP raised its holdings in shares of Profound Medical (NASDAQ:PROF) by 15.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 990,348 shares of the company’s stock after purchasing an additional 130,442 shares during the quarter. Royce & Associates LP’s holdings in Profound Medical were worth $7,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PROF. First Eagle Investment Management LLC increased its position in shares of Profound Medical by 138.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 291,391 shares of the company’s stock valued at $1,451,000 after buying an additional 169,352 shares in the last quarter. CM Management LLC bought a new stake in shares of Profound Medical in the 4th quarter valued at $630,000. Perkins Capital Management Inc. bought a new stake in shares of Profound Medical in the 4th quarter valued at $899,000. Legato Capital Management LLC bought a new stake in shares of Profound Medical in the 4th quarter valued at $784,000. Finally, MMCAP International Inc. SPC increased its position in shares of Profound Medical by 2.0% in the 3rd quarter. MMCAP International Inc. SPC now owns 500,859 shares of the company’s stock valued at $2,449,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 47.86% of the company’s stock.

Profound Medical Trading Up 0.4%

Shares of NASDAQ PROF opened at $6.90 on Friday. The firm has a market cap of $250.75 million, a PE ratio of -5.56 and a beta of 0.73. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.95. The company has a fifty day moving average price of $6.55 and a 200 day moving average price of $6.87.

Profound Medical (NASDAQ:PROF) last announced its earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. The firm had revenue of $5.34 million during the quarter, compared to analyst estimates of $4.85 million. Profound Medical had a negative net margin of 206.76% and a negative return on equity of 78.88%. Equities research analysts forecast that Profound Medical will post -0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Profound Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.