Truist Financial Corp Purchases Shares of 50,000 Profound Medical Corp. (NASDAQ:PROF)

Truist Financial Corp bought a new position in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,000 shares of the company's stock, valued at approximately $376,000. Truist Financial Corp owned about 0.17% of Profound Medical as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. raised its holdings 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 worth $96,000 after purchasing an additional 1,500 shares during the last quarter. MTM Investment Management LLC raised its stake in shares of Profound Medical by 10.4% during the fourth quarter. MTM Investment Management LLC now owns 18,575 shares of the company's stock worth $139,000 after buying an additional 1,750 shares during the last quarter. K2 Principal Fund L.P. bought a new stake in shares of Profound Medical during the third quarter worth approximately $398,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Profound Medical during the 3rd quarter valued at $612,000. Finally, Thompson Davis & CO. Inc. raised its position in shares of 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 acquiring an additional 27,100 shares during the last quarter. Institutional investors own 47.86% of the company's stock.

Profound Medical Trading Down 5.9 %

Shares of PROF stock traded down $0.43 on Friday, reaching $6.86. The company had a trading volume of 75,981 shares, compared to its average volume of 75,863. Profound Medical Corp. has a 12 month low of $5.63 and a 12 month high of $11.42. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. The stock has a market cap of $206.07 million, a PE ratio of -5.12 and a beta of 0.78. The company has a 50-day moving average of $7.03 and a 200-day moving average of $7.61.

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Profound Medical (NASDAQ:PROF - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $4.18 million during the quarter, compared to analysts' expectations of $5.92 million. On average, equities analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current year.

Analyst Ratings Changes

Separately, Raymond James upgraded shares of Profound Medical to a "strong-buy" rating in a research report 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.