FIL Ltd Buys 260,000 Shares of Profound Medical Corp. (NASDAQ:PROF)

FIL Ltd increased its holdings in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,795,000 shares of the company's stock after purchasing an additional 260,000 shares during the quarter. FIL Ltd owned approximately 5.98% of Profound Medical worth $13,486,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. MTM Investment Management LLC raised its stake in shares of Profound Medical by 10.4% during the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company's stock worth $139,000 after purchasing an additional 1,750 shares in the last quarter. Northwest & Ethical Investments L.P. raised its holdings in shares of Profound Medical by 94.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company's stock valued at $346,000 after purchasing an additional 22,500 shares during the period. Truist Financial Corp acquired a new stake in Profound Medical in the 4th quarter valued at about $376,000. Vestcor Inc bought a new position in Profound Medical during the fourth quarter worth about $376,000. Finally, National Bank of Canada FI increased its position in Profound Medical by 3.8% during the fourth quarter. National Bank of Canada FI now owns 126,508 shares of the company's stock worth $951,000 after buying an additional 4,671 shares during the last quarter. Institutional investors own 47.86% of the company's stock.

Profound Medical Stock Performance

Shares of PROF traded down $0.09 during mid-day trading on Wednesday, reaching $4.72. The company's stock had a trading volume of 49,100 shares, compared to its average volume of 57,282. 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 Corp. has a 1-year low of $3.90 and a 1-year high of $11.42. The business has a 50-day simple moving average of $6.29 and a two-hundred day simple moving average of $7.09. The stock has a market cap of $141.79 million, a P/E ratio of -3.52 and a beta of 0.68.

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Profound Medical (NASDAQ:PROF - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.11. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. The company had revenue of $4.18 million for the quarter, compared to analyst estimates of $5.92 million. As a group, equities research analysts anticipate that Profound Medical Corp. will post -1.12 earnings per share for the current fiscal 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.