Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 76,900 shares of the company's stock, valued at approximately $612,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.31% of Profound Medical as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of PROF. Thompson Davis & CO. Inc. boosted its position in shares of Profound Medical by 36.2% in the third 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 period. Raymond James Trust N.A. bought a new position in Profound Medical in the 2nd quarter valued at about $88,000. Finally, Royce & Associates LP increased its holdings 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 buying an additional 3,500 shares during the period. Institutional investors own 47.86% of the company's stock.
Wall Street Analyst Weigh In
Separately, Raymond James raised shares of Profound Medical to a "strong-buy" rating in a research note on Saturday, November 9th.
View Our Latest Stock Analysis on PROF
Profound Medical Stock Down 0.4 %
Shares of PROF traded down $0.03 during mid-day trading on Friday, reaching $8.12. The company had a trading volume of 6,799 shares, compared to its average volume of 39,964. The company's 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.46. Profound Medical Corp. has a 1-year low of $7.11 and a 1-year high of $11.42. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11.
Profound Medical Profile
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Free Report)
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.
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