Vestcor Inc Takes Position in Profound Medical Corp. (NASDAQ:PROF)

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Profound Medical in the fourth quarter worth about $6,577,000. MMCAP International Inc. SPC acquired a new stake in shares of Profound Medical during the fourth quarter worth $3,680,000. Ring Mountain Capital LLC purchased a new stake in shares of Profound Medical during the fourth quarter valued at $2,087,000. Gagnon Securities LLC increased its position in shares of Profound Medical by 12.6% in the 4th 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. Finally, Gagnon Advisors LLC raised its stake in Profound Medical by 20.0% in the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company's stock worth $6,734,000 after acquiring an additional 149,445 shares during the last quarter. 47.86% of the stock is owned by hedge funds and other institutional investors.

Profound Medical Stock Performance

Shares of PROF stock traded down $0.13 during mid-day trading on Friday, reaching $6.81. The stock had a trading volume of 58,316 shares, compared to its average volume of 51,499. Profound Medical Corp. has a 1-year low of $5.63 and a 1-year high of $11.42. The firm has a market cap of $204.57 million, a price-to-earnings ratio of -5.08 and a beta of 0.78. 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 business's fifty day moving average is $6.89 and its 200-day moving average is $7.45.

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Profound Medical (NASDAQ:PROF - Get Free Report) last issued its 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. 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 analysts' expectations of $5.92 million. On average, research analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current 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.