Profound Medical $PROF is Gagnon Securities LLC’s 10th Largest Position

Gagnon Securities LLC lifted its stake in shares of Profound Medical (NASDAQ:PROF) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,944,061 shares of the company’s stock after acquiring an additional 211,021 shares during the quarter. Profound Medical comprises approximately 3.1% of Gagnon Securities LLC’s holdings, making the stock its 10th largest position. Gagnon Securities LLC owned about 5.36% of Profound Medical worth $15,300,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Profound Medical by 56.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,727 shares of the company’s stock worth $147,000 after purchasing an additional 6,787 shares during the period. T3 Companies LLC bought a new position in shares of Profound Medical in the fourth quarter worth about $378,000. Hohimer Wealth Management LLC bought a new position in shares of Profound Medical in the fourth quarter worth about $394,000. TD Waterhouse Canada Inc. increased its stake in shares of Profound Medical by 2.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 77,493 shares of the company’s stock worth $582,000 after purchasing an additional 2,200 shares during the period. Finally, CM Management LLC bought a new stake in shares of Profound Medical in the fourth quarter valued at about $630,000. 47.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Profound Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Profound Medical presently has a consensus rating of “Hold” and an average target price of $12.00.

Profound Medical Stock Down 0.3%

Shares of PROF stock opened at $6.63 on Friday. Profound Medical has a 12-month low of $3.76 and a 12-month high of $8.95. The company has a market capitalization of $240.93 million, a P/E ratio of -5.35 and a beta of 0.72. The firm has a 50-day moving average price of $6.75 and a 200 day moving average price of $6.90.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. Profound Medical had a negative net margin of 206.76% and a negative return on equity of 78.88%. The firm had revenue of $5.34 million for the quarter, compared to analyst estimates of $4.85 million. As a group, research analysts expect that Profound Medical will post -0.88 earnings per share for the current year.

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.