Royce & Associates LP Buys 195,501 Shares of Profound Medical Corp. (NASDAQ:PROF)

Royce & Associates LP lifted its position in Profound Medical Corp. (NASDAQ:PROF) by 34.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 764,799 shares of the company’s stock after purchasing an additional 195,501 shares during the period. Royce & Associates LP’s holdings in Profound Medical were worth $5,746,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. boosted its position 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 valued at $96,000 after buying an additional 1,500 shares during the period. 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 valued at $139,000 after acquiring an additional 1,750 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Profound Medical during the fourth quarter worth about $376,000. Vestcor Inc bought a new stake in shares of Profound Medical in the fourth quarter worth about $376,000. Finally, K2 Principal Fund L.P. purchased a new position in Profound Medical during the 3rd quarter valued at about $398,000. 47.86% of the stock is owned by hedge funds and other institutional investors.

Profound Medical Trading Up 1.9 %

NASDAQ PROF opened at $6.89 on Thursday. The stock has a market cap of $206.98 million, a P/E ratio of -5.14 and a beta of 0.78. Profound Medical Corp. has a fifty-two week low of $5.63 and a fifty-two week high of $11.42. The stock has a 50 day simple moving average of $6.90 and a two-hundred day simple moving average of $7.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. The company had revenue of $4.18 million during the quarter, compared to analyst estimates of $5.92 million. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. On average, analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current 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.