Thompson Davis & CO. Inc. Buys 27,100 Shares of Profound Medical Corp. (NASDAQ:PROF)

Thompson Davis & CO. Inc. grew its stake in shares of Profound Medical Corp. (NASDAQ:PROF) by 36.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,900 shares of the company’s stock after purchasing an additional 27,100 shares during the quarter. Profound Medical makes up approximately 0.6% of Thompson Davis & CO. Inc.’s portfolio, making the stock its 26th biggest position. Thompson Davis & CO. Inc. owned 0.41% of Profound Medical worth $811,000 at the end of the most recent reporting period.

Separately, Raymond James Trust N.A. bought a new position in shares of Profound Medical during the second quarter valued at about $88,000. Institutional investors and hedge funds own 47.86% of the company’s stock.

Profound Medical Stock Performance

Shares of PROF opened at $7.83 on Wednesday. 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. The stock has a market cap of $193.10 million, a P/E ratio of -5.84 and a beta of 0.83. The business’s 50 day moving average price is $7.76 and its 200-day moving average price is $8.47.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PROF shares. Raymond James upgraded Profound Medical to a “strong-buy” rating in a research report on Saturday, November 9th. Lake Street Capital started coverage on shares of Profound Medical in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $16.50 target price for the company.

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.