Gagnon Advisors LLC Raises Position in Profound Medical Corp. (NASDAQ:PROF)

Gagnon Advisors LLC boosted its holdings in Profound Medical Corp. (NASDAQ:PROF - Free Report) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 896,671 shares of the company's stock after purchasing an additional 149,445 shares during the period. Profound Medical makes up 4.3% of Gagnon Advisors LLC's portfolio, making the stock its 10th largest position. Gagnon Advisors LLC owned 2.98% of Profound Medical worth $6,734,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP grew its position in shares of Profound Medical by 0.6% in the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company's stock worth $4,529,000 after buying an additional 3,500 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in Profound Medical by 36.2% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company's stock valued at $811,000 after buying an additional 27,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Profound Medical in the third quarter worth $612,000. Raymond James Trust N.A. increased 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 valued at $96,000 after purchasing an additional 1,500 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in shares of Profound Medical during the third quarter valued at approximately $398,000. Hedge funds and other institutional investors own 47.86% of the company's stock.

Profound Medical Stock Performance

Shares of PROF traded up $0.05 during mid-day trading on Wednesday, hitting $6.27. 35,358 shares of the company traded hands, compared to its average volume of 74,147. Profound Medical Corp. has a 1 year low of $6.17 and a 1 year high of $11.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12. The stock has a 50-day moving average price of $7.37 and a two-hundred day moving average price of $8.06. The stock has a market cap of $188.35 million, a price-to-earnings ratio of -4.68 and a beta of 0.88.

Profound Medical (NASDAQ:PROF - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.05). Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. The business had revenue of $2.83 million during the quarter, compared to the consensus estimate of $3.30 million. During the same quarter last year, the company earned ($0.26) EPS. Equities analysts anticipate that Profound Medical Corp. will post -1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded Profound Medical to a "strong-buy" rating in a research note on Saturday, November 9th.

About Profound Medical

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.