Profound Medical Corp. (NASDAQ:PROF) Shares Sold by Rosalind Advisors Inc.

Rosalind Advisors Inc. trimmed its position in shares of Profound Medical Corp. (NASDAQ:PROF) by 8.9% during the third quarter, Holdings Channel reports. The firm owned 485,973 shares of the company’s stock after selling 47,360 shares during the quarter. Profound Medical comprises approximately 2.4% of Rosalind Advisors Inc.’s holdings, making the stock its 14th biggest position. Rosalind Advisors Inc.’s holdings in Profound Medical were worth $3,868,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its position in shares of Profound Medical by 9.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock worth $628,000 after buying an additional 6,150 shares in the last quarter. Raymond James Trust N.A. acquired a new position in Profound Medical during the second quarter worth about $88,000. Finally, Gagnon Advisors LLC lifted its holdings in shares of Profound Medical by 10.0% in the first quarter. Gagnon Advisors LLC now owns 747,226 shares of the company’s stock valued at $6,374,000 after purchasing an additional 67,930 shares in the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PROF shares. Lake Street Capital initiated coverage on Profound Medical in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $16.50 target price on the stock. Stifel Nicolaus upgraded Profound Medical from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $12.00 in a research report on Tuesday, July 16th.

Profound Medical Price Performance

PROF stock opened at $7.91 on Wednesday. The stock has a market capitalization of $195.06 million, a price-to-earnings ratio of -6.48 and a beta of 0.83. The company has a quick ratio of 7.42, a current ratio of 8.61 and a debt-to-equity ratio of 0.10. Profound Medical Corp. has a 52-week low of $7.11 and a 52-week high of $11.69. The stock’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $8.44.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). The firm had revenue of $2.23 million during the quarter, compared to analyst estimates of $2.50 million. Profound Medical had a negative net margin of 350.14% and a negative return on equity of 71.28%. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Equities research analysts expect that Profound Medical Corp. will post -1.19 EPS for the current year.

Profound Medical Profile

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.