250,000 Shares in Profound Medical Corp. (NASDAQ:PROF) Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new stake in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 250,000 shares of the company's stock, valued at approximately $1,879,000. Picton Mahoney Asset Management owned 0.83% of Profound Medical at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Gagnon Securities LLC increased its stake in shares of Profound Medical by 12.6% during the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company's stock valued at $12,411,000 after acquiring an additional 185,284 shares during the period. Gagnon Advisors LLC increased its stake in shares of Profound Medical by 20.0% during the fourth quarter. Gagnon Advisors LLC now owns 896,671 shares of the company's stock valued at $6,734,000 after acquiring an additional 149,445 shares during the period. Raymond James Financial Inc. acquired a new position in Profound Medical in the fourth quarter worth approximately $6,577,000. Royce & Associates LP grew its position in Profound Medical by 0.6% in the third 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. Finally, MMCAP International Inc. SPC acquired a new position in Profound Medical in the fourth quarter worth approximately $3,680,000. Institutional investors and hedge funds own 47.86% of the company's stock.

Profound Medical Price Performance

Profound Medical stock traded up $0.05 during mid-day trading on Thursday, hitting $6.94. The company's stock had a trading volume of 41,741 shares, compared to its average volume of 51,299. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $208.48 million, a P/E ratio of -5.18 and a beta of 0.78. Profound Medical Corp. has a twelve month low of $5.63 and a twelve month high of $11.42. The stock's fifty day moving average price is $6.90 and its two-hundred day moving average price is $7.45.

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Profound Medical (NASDAQ:PROF - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.11. The firm had revenue of $4.18 million for the quarter, compared to analyst estimates of $5.92 million. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. Research analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current year.

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.