Profound Medical Corp. (NASDAQ:PROF) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in shares of Profound Medical Corp. (NASDAQ:PROF) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,693 shares of the company’s stock after selling 2,038 shares during the quarter. Raymond James & Associates’ holdings in Profound Medical were worth $558,000 at the end of the most recent quarter.

Separately, MTM Investment Management LLC grew its stake in Profound Medical by 8.2% during the 3rd quarter. MTM Investment Management LLC now owns 19,875 shares of the company’s stock worth $203,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 47.86% of the company’s stock.

Analysts Set New Price Targets

Separately, Alliance Global Partners lowered their target price on Profound Medical from $14.25 to $12.75 and set a “buy” rating for the company in a research note on Thursday, January 4th.

Profound Medical Trading Up 0.5 %

PROF opened at $8.03 on Friday. The business has a fifty day moving average price of $8.30 and a 200 day moving average price of $8.78. The stock has a market capitalization of $196.17 million, a price-to-earnings ratio of -5.95 and a beta of 0.80. Profound Medical Corp. has a 12 month low of $7.11 and a 12 month high of $15.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.58 and a quick ratio of 5.48.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.14). The business had revenue of $2.01 million for the quarter, compared to analyst estimates of $1.90 million. Profound Medical had a negative return on equity of 70.18% and a negative net margin of 396.85%. Sell-side analysts expect that Profound Medical Corp. will post -1.17 earnings per share for the current fiscal year.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.