Gagnon Securities LLC Raises Stock Holdings in Profound Medical $PROF

Gagnon Securities LLC grew its stake in shares of Profound Medical (NASDAQ:PROF) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,944,061 shares of the company’s stock after buying an additional 211,021 shares during the period. Profound Medical makes up 3.1% of Gagnon Securities LLC’s portfolio, making the stock its 10th biggest position. Gagnon Securities LLC owned approximately 0.05% of Profound Medical worth $15,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PROF. Rosalind Advisors Inc. increased its holdings in shares of Profound Medical by 54.4% in the fourth quarter. Rosalind Advisors Inc. now owns 1,068,955 shares of the company’s stock worth $8,413,000 after acquiring an additional 376,770 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Profound Medical by 138.8% in the third quarter. First Eagle Investment Management LLC now owns 291,391 shares of the company’s stock valued at $1,451,000 after purchasing an additional 169,352 shares in the last quarter. Empery Asset Management LP bought a new stake in shares of Profound Medical in the 4th quarter valued at about $1,130,000. Royce & Associates LP raised its holdings in shares of Profound Medical by 15.2% in the 4th quarter. Royce & Associates LP now owns 990,348 shares of the company’s stock valued at $7,771,000 after purchasing an additional 130,442 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in Profound Medical in the 4th quarter valued at about $1,023,000. 47.86% of the stock is currently owned by institutional investors.

Profound Medical Trading Down 0.3%

PROF stock opened at $6.63 on Friday. The stock has a market capitalization of $240.93 million, a P/E ratio of -5.35 and a beta of 0.72. Profound Medical has a 12 month low of $3.76 and a 12 month high of $8.95. 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 posted its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.05. The firm had revenue of $5.34 million during the quarter, compared to analysts’ expectations of $4.85 million. Profound Medical had a negative net margin of 206.76% and a negative return on equity of 78.88%. As a group, equities analysts predict that Profound Medical will post -0.88 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Profound Medical

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.