875,709 Shares in Profound Medical Corp. (NASDAQ:PROF) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Profound Medical Corp. (NASDAQ:PROF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 875,709 shares of the company's stock, valued at approximately $6,577,000. Raymond James Financial Inc. owned about 2.92% of Profound Medical at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Gagnon Securities LLC raised its position 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 buying an additional 185,284 shares during the last quarter. Gagnon Advisors LLC increased its stake in 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. MMCAP International Inc. SPC acquired a new position in Profound Medical in the 4th quarter valued at approximately $3,680,000. Ring Mountain Capital LLC bought a new stake in shares of Profound Medical in the 4th quarter worth approximately $2,087,000. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of Profound Medical by 78.9% during the 4th quarter. Thompson Davis & CO. Inc. now owns 182,295 shares of the company's stock worth $1,369,000 after purchasing an additional 80,395 shares in the last quarter. Institutional investors own 47.86% of the company's stock.

Profound Medical Stock Performance

Shares of PROF traded down $0.31 on Thursday, reaching $6.19. 85,948 shares of the stock traded hands, compared to its average volume of 69,482. The firm has a market cap of $185.95 million, a price-to-earnings ratio of -4.62 and a beta of 0.78. Profound Medical Corp. has a 12 month low of $5.63 and a 12 month high of $11.42. The stock's 50-day moving average price is $6.83 and its 200-day moving average price is $7.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16.

Remove Ads

Profound Medical (NASDAQ:PROF - Get Free Report) last issued 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. The business 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%. Equities analysts forecast that Profound Medical Corp. will post -1.12 EPS for the current fiscal year.

Profound Medical 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.