Crestwood Advisors Group LLC Invests $129,000 in Profound Medical Corp. (NASDAQ:PROF)

Crestwood Advisors Group LLC acquired a new position in Profound Medical Corp. (NASDAQ:PROFGet Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,700 shares of the company’s stock, valued at approximately $129,000. Crestwood Advisors Group LLC owned approximately 0.08% of Profound Medical at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Harbor Advisors LLC purchased a new position in Profound Medical in the 4th quarter worth $139,000. Jane Street Group LLC purchased a new position in Profound Medical in the 1st quarter worth $132,000. Wealth Management Partners LLC purchased a new position in Profound Medical in the 1st quarter worth $230,000. Raymond James Financial Services Advisors Inc. raised its stake in Profound Medical by 21.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 46,911 shares of the company’s stock worth $422,000 after acquiring an additional 8,282 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Profound Medical by 12.5% in the 4th quarter. Raymond James & Associates now owns 73,927 shares of the company’s stock worth $834,000 after acquiring an additional 8,231 shares during the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James reduced their target price on Profound Medical from $17.50 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 8th.

Profound Medical Stock Performance

NASDAQ PROF opened at $5.04 on Friday. The stock has a 50-day simple moving average of $7.15 and a two-hundred day simple moving average of $7.81. The firm has a market capitalization of $105.08 million, a P/E ratio of -3.45 and a beta of 1.31. Profound Medical Corp. has a fifty-two week low of $4.99 and a fifty-two week high of $16.23.

Profound Medical (NASDAQ:PROFGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.14. The business had revenue of $2.03 million during the quarter, compared to analyst estimates of $1.90 million. Profound Medical had a negative return on equity of 38.97% and a negative net margin of 437.62%. As a group, analysts forecast that Profound Medical Corp. will post -1.27 earnings per share for the current year.

About Profound Medical

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Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, the United States, and Finland.

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Institutional Ownership by Quarter for Profound Medical (NASDAQ:PROF)

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