Profound Medical Corp. (NASDAQ:PROF) Stock Position Boosted by Timelo Investment Management Inc.

Timelo Investment Management Inc. lifted its holdings in Profound Medical Corp. (NASDAQ:PROF - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 911,761 shares of the company's stock after buying an additional 159,954 shares during the quarter. Profound Medical accounts for 4.8% of Timelo Investment Management Inc.'s portfolio, making the stock its 3rd biggest holding. Timelo Investment Management Inc. owned 3.04% of Profound Medical worth $6,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PROF. FIL Ltd increased its stake in Profound Medical by 16.9% in the 4th quarter. FIL Ltd now owns 1,795,000 shares of the company's stock valued at $13,486,000 after purchasing an additional 260,000 shares in the last quarter. Gagnon Securities LLC increased its position in shares of Profound Medical by 12.6% in the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company's stock valued at $12,411,000 after buying an additional 185,284 shares in the last quarter. Gagnon Advisors LLC raised its stake in shares of Profound Medical by 20.0% during the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company's stock worth $6,734,000 after buying an additional 149,445 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Profound Medical during the 4th quarter worth $6,577,000. Finally, Royce & Associates LP boosted its position in shares of Profound Medical by 34.3% in the 4th quarter. Royce & Associates LP now owns 764,799 shares of the company's stock worth $5,746,000 after buying an additional 195,501 shares in the last quarter. Institutional investors and hedge funds own 47.86% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut their target price on shares of Profound Medical from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday.

Profound Medical Price Performance

Profound Medical stock traded up $0.03 during mid-day trading on Thursday, hitting $4.72. 60,777 shares of the company were exchanged, compared to its average volume of 57,798. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. Profound Medical Corp. has a 12-month low of $3.90 and a 12-month high of $11.42. The business's 50 day simple moving average is $6.11 and its two-hundred day simple moving average is $6.96. The company has a market capitalization of $141.79 million, a P/E ratio of -3.52 and a beta of 0.68.

Profound Medical (NASDAQ:PROF - Get Free Report) last announced its earnings results 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 firm had revenue of $4.18 million during the quarter, compared to the consensus estimate of $5.92 million. Analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current fiscal year.

Profound Medical Company Profile

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.