MMCAP International Inc. SPC Purchases 10,000 Shares of Profound Medical $PROF

MMCAP International Inc. SPC lifted its position in Profound Medical (NASDAQ:PROF) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 490,859 shares of the company’s stock after purchasing an additional 10,000 shares during the period. MMCAP International Inc. SPC’s holdings in Profound Medical were worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ring Mountain Capital LLC boosted its holdings in Profound Medical by 10.5% in the 1st quarter. Ring Mountain Capital LLC now owns 306,957 shares of the company’s stock worth $1,786,000 after buying an additional 29,098 shares during the period. Picton Mahoney Asset Management raised its holdings in 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 acquiring an additional 3,354 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Profound Medical in the first quarter valued at about $64,000. Gagnon Securities LLC boosted its stake in shares of Profound Medical by 2.7% in the first quarter. Gagnon Securities LLC now owns 1,697,680 shares of the company’s stock worth $9,880,000 after acquiring an additional 45,149 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of Profound Medical by 8.4% in the first quarter. National Bank of Canada FI now owns 137,126 shares of the company’s stock worth $798,000 after acquiring an additional 10,618 shares during the period. 47.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Profound Medical in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

Profound Medical Stock Performance

Profound Medical stock opened at $5.98 on Friday. The company’s 50-day moving average price is $5.22 and its 200-day moving average price is $5.36. The company has a quick ratio of 7.07, a current ratio of 8.53 and a debt-to-equity ratio of 0.11. The company has a market cap of $180.56 million, a PE ratio of -4.10 and a beta of 0.67. Profound Medical has a twelve month low of $3.76 and a twelve month high of $9.17.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.09). Profound Medical had a negative return on equity of 89.74% and a negative net margin of 343.97%.The company had revenue of $2.21 million during the quarter, compared to analysts’ expectations of $4.75 million. On average, equities research analysts forecast that Profound Medical will post -1.12 EPS for the current fiscal year.

Profound Medical Profile

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.