Royce & Associates LP Acquires 95,000 Shares of Profound Medical $PROF

Royce & Associates LP lifted its holdings in Profound Medical (NASDAQ:PROF) by 12.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 859,906 shares of the company’s stock after buying an additional 95,000 shares during the quarter. Royce & Associates LP owned approximately 2.85% of Profound Medical worth $4,202,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PROF. Royal Bank of Canada grew its position in Profound Medical by 3.5% in the 1st quarter. Royal Bank of Canada now owns 435,997 shares of the company’s stock valued at $2,537,000 after acquiring an additional 14,795 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Profound Medical during the second quarter valued at $720,000. MMCAP International Inc. SPC boosted its stake in shares of Profound Medical by 2.1% during the second quarter. MMCAP International Inc. SPC now owns 490,859 shares of the company’s stock valued at $2,896,000 after purchasing an additional 10,000 shares during the period. Thompson Davis & CO. Inc. grew its holdings in shares of Profound Medical by 32.7% in the second quarter. Thompson Davis & CO. Inc. now owns 270,520 shares of the company’s stock worth $1,596,000 after purchasing an additional 66,670 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in Profound Medical by 36.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 56,073 shares of the company’s stock worth $342,000 after buying an additional 14,920 shares during the period. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Profound Medical Price Performance

PROF stock opened at $7.49 on Friday. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.95. The business has a 50-day moving average price of $7.46 and a 200 day moving average price of $6.33. The company has a market capitalization of $271.84 million, a P/E ratio of -5.59 and a beta of 0.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Lake Street Capital lifted their price objective on shares of Profound Medical from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Profound Medical in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Profound Medical from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Profound Medical currently has a consensus rating of “Hold” and an average price target of $12.00.

Profound Medical Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.