Gagnon Advisors LLC Raises Stock Holdings in Profound Medical Corp. (NASDAQ:PROF)

Gagnon Advisors LLC increased its position in shares of Profound Medical Corp. (NASDAQ:PROF) by 20.0% during the 4th quarter, Holdings Channel reports. The fund owned 896,671 shares of the company’s stock after buying an additional 149,445 shares during the quarter. Profound Medical accounts for about 4.3% of Gagnon Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Gagnon Advisors LLC’s holdings in Profound Medical were worth $6,734,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Gagnon Securities LLC raised its holdings in Profound Medical by 12.6% during the 4th quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock worth $12,411,000 after buying an additional 185,284 shares during the period. Royce & Associates LP raised its holdings in shares of Profound Medical by 0.6% during the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after acquiring an additional 3,500 shares during the period. Thompson Davis & CO. Inc. raised its holdings in shares of Profound Medical by 36.2% during the third quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock worth $811,000 after acquiring an additional 27,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Profound Medical in the 3rd quarter valued at $612,000. Finally, K2 Principal Fund L.P. bought a new position in Profound Medical during the 3rd quarter worth about $398,000. Institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Performance

Shares of PROF opened at $6.45 on Friday. The stock has a market capitalization of $193.76 million, a price-to-earnings ratio of -4.81 and a beta of 0.85. Profound Medical Corp. has a 12 month low of $6.22 and a 12 month high of $11.42. The firm has a fifty day simple moving average of $7.43 and a 200 day simple moving average of $8.14. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11.

Profound Medical (NASDAQ:PROF) last released its earnings results on Thursday, November 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.05). Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. The company had revenue of $2.83 million during the quarter, compared to analyst estimates of $3.30 million. During the same period in the prior year, the firm posted ($0.26) EPS. Research analysts forecast that Profound Medical Corp. will post -1.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James raised 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.