MTM Investment Management LLC Boosts Position in Profound Medical Corp. (NASDAQ:PROF)

MTM Investment Management LLC increased its stake in Profound Medical Corp. (NASDAQ:PROF) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,575 shares of the company’s stock after buying an additional 1,750 shares during the period. MTM Investment Management LLC owned 0.06% of Profound Medical worth $139,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PROF. Royce & Associates LP increased its stake in Profound Medical by 0.6% in the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after buying an additional 3,500 shares during the period. Thompson Davis & CO. Inc. increased its position in Profound Medical by 36.2% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock valued at $811,000 after purchasing an additional 27,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Profound Medical during the 3rd quarter valued at about $612,000. Raymond James Trust N.A. increased its position in Profound Medical by 14.3% during the 3rd quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock valued at $96,000 after purchasing an additional 1,500 shares during the period. Finally, K2 Principal Fund L.P. purchased a new position in Profound Medical during the 3rd quarter valued at about $398,000. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Performance

Shares of Profound Medical stock opened at $6.27 on Thursday. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $7.89. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. Profound Medical Corp. has a 52-week low of $5.63 and a 52-week high of $11.42.

Analysts Set New Price Targets

Separately, Raymond James raised shares of Profound Medical to a “strong-buy” rating in a research report on Saturday, November 9th.

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.