Arun Swarup Menawat Acquires 10,003 Shares of Profound Medical Corp. (NASDAQ:PROF) Stock

Profound Medical Corp. (NASDAQ:PROF) CEO Arun Swarup Menawat purchased 10,003 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average cost of $4.33 per share, with a total value of $43,312.99. Following the purchase, the chief executive officer now directly owns 575,062 shares of the company’s stock, valued at $2,490,018.46. This trade represents a 1.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Arun Swarup Menawat also recently made the following trade(s):

• On Friday, May 16th, Arun Swarup Menawat bought 12,027 shares of Profound Medical stock. The stock was bought at an average cost of $4.73 per share, with a total value of $56,887.71.

Profound Medical Price Performance

Shares of PROF opened at $5.13 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12. The stock has a market cap of $154.17 million, a PE ratio of -3.83 and a beta of 0.44. The firm’s 50-day simple moving average is $5.19 and its two-hundred day simple moving average is $6.59. Profound Medical Corp. has a fifty-two week low of $3.90 and a fifty-two week high of $11.42.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). The firm had revenue of $2.62 million during the quarter, compared to the consensus estimate of $4.78 million. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. Analysts anticipate that Profound Medical Corp. will post -1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PROF. Raymond James downgraded shares of Profound Medical from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 9th. Lake Street Capital decreased their target price on Profound Medical from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd.

Institutional Investors Weigh In On Profound Medical

A number of institutional investors have recently made changes to their positions in the company. MTM Investment Management LLC lifted its position in Profound Medical by 10.4% in the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock valued at $139,000 after acquiring an additional 1,750 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Profound Medical by 1.3% during the first quarter. Picton Mahoney Asset Management now owns 253,354 shares of the company’s stock valued at $1,474,000 after purchasing an additional 3,354 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Profound Medical by 3.8% during the fourth quarter. National Bank of Canada FI now owns 126,508 shares of the company’s stock valued at $951,000 after buying an additional 4,671 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Profound Medical in the 1st quarter worth about $64,000. Finally, Letko Brosseau & Associates Inc. raised its position in Profound Medical by 1.0% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,211,150 shares of the company’s stock worth $8,689,000 after buying an additional 12,375 shares during the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.

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.