Perkins Capital Management Inc. Takes Position in Profound Medical $PROF

Perkins Capital Management Inc. acquired a new stake in Profound Medical (NASDAQ:PROF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,280 shares of the company’s stock, valued at approximately $899,000. Perkins Capital Management Inc. owned 0.31% of Profound Medical as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in Profound Medical by 34.3% during the third quarter. TD Waterhouse Canada Inc. now owns 75,293 shares of the company’s stock worth $356,000 after buying an additional 19,220 shares during the last quarter. CM Management LLC acquired a new position in Profound Medical during the fourth quarter worth $630,000. National Bank of Canada FI lifted its position in Profound Medical by 7.3% in the 3rd quarter. National Bank of Canada FI now owns 172,883 shares of the company’s stock valued at $845,000 after acquiring an additional 11,704 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Profound Medical by 14.3% in the third quarter. Bank of America Corp DE now owns 200,160 shares of the company’s stock worth $979,000 after purchasing an additional 24,974 shares during the last quarter. Finally, Thompson Davis & CO. Inc. raised its position in Profound Medical by 3.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 216,735 shares of the company’s stock valued at $1,706,000 after buying an additional 8,015 shares during the last quarter. 47.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Profound Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Profound Medical currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Profound Medical Price Performance

NASDAQ:PROF opened at $7.14 on Wednesday. The company has a market capitalization of $259.47 million, a P/E ratio of -5.76 and a beta of 0.73. The business has a fifty day simple moving average of $6.37 and a two-hundred day simple moving average of $6.79. Profound Medical has a 1 year low of $3.76 and a 1 year high of $8.95.

Profound Medical (NASDAQ:PROF) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.05. Profound Medical had a negative return on equity of 78.88% and a negative net margin of 206.76%.The company had revenue of $5.34 million during the quarter, compared to the consensus estimate of $4.85 million. As a group, analysts anticipate that Profound Medical will post -0.86 earnings per share for the current year.

Profound Medical Company 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.