MTM Investment Management LLC Sells 2,050 Shares of Profound Medical Corp. (NASDAQ:PROF)

MTM Investment Management LLC cut its holdings in Profound Medical Corp. (NASDAQ:PROF) by 10.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,825 shares of the company’s stock after selling 2,050 shares during the period. MTM Investment Management LLC’s holdings in Profound Medical were worth $132,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PROF. Raymond James Trust N.A. acquired a new stake in Profound Medical in the 2nd quarter valued at approximately $88,000. Thompson Davis & CO. Inc. boosted its position in shares of Profound Medical by 9.0% in the second quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock valued at $628,000 after acquiring an additional 6,150 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Profound Medical in the third quarter worth $612,000. Finally, Royce & Associates LP raised its stake in Profound Medical by 0.6% during the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock valued at $4,529,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 47.86% of the company’s stock.

Analysts Set New Price Targets

PROF has been the topic of several research analyst reports. Lake Street Capital began coverage on shares of Profound Medical in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $16.50 price target on the stock. Raymond James upgraded shares of Profound Medical to a “strong-buy” rating in a research note on Saturday, November 9th.

Profound Medical Stock Down 0.1 %

PROF opened at $7.83 on Wednesday. Profound Medical Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.69. The company has a market capitalization of $193.10 million, a P/E ratio of -5.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. The firm’s fifty day moving average price is $7.76 and its two-hundred day moving average price is $8.47.

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.