Royce & Associates LP Boosts Stake in Profound Medical Corp. (NASDAQ:PROF)

Royce & Associates LP raised its position in Profound Medical Corp. (NASDAQ:PROF) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 569,298 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. Royce & Associates LP’s holdings in Profound Medical were worth $4,529,000 at the end of the most recent quarter.

Separately, Thompson Davis & CO. Inc. increased its position in Profound Medical by 9.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock worth $628,000 after purchasing an additional 6,150 shares in the last quarter. Institutional investors own 47.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PROF shares. Lake Street Capital began coverage on shares of Profound Medical in a research note on Tuesday, July 23rd. They set a “buy” rating and a $16.50 price objective for the company. Raymond James raised shares of Profound Medical to a “strong-buy” rating in a research report on Saturday, November 9th.

Profound Medical Stock Down 2.1 %

Shares of NASDAQ:PROF opened at $7.84 on Tuesday. The company has a market capitalization of $193.33 million, a price-to-earnings ratio of -5.85 and a beta of 0.83. The company has a 50 day moving average of $7.77 and a two-hundred day moving average of $8.47. Profound Medical Corp. has a 52-week low of $7.11 and a 52-week high of $11.69. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11.

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.