Vestcor Inc Acquires New Holdings in Profound Medical Corp. (NASDAQ:PROF)

Vestcor Inc bought a new position in shares of Profound Medical Corp. (NASDAQ:PROF) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $376,000. Vestcor Inc owned 0.17% of Profound Medical as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PROF. Raymond James Trust N.A. lifted its stake in shares of Profound Medical by 14.3% in the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock worth $96,000 after buying an additional 1,500 shares during the last quarter. MTM Investment Management LLC boosted its holdings in Profound Medical by 10.4% during the fourth 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 during the period. Truist Financial Corp acquired a new stake in shares of Profound Medical in the fourth quarter valued at about $376,000. K2 Principal Fund L.P. acquired a new stake in shares of Profound Medical in the third quarter valued at about $398,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Profound Medical in the third quarter worth about $612,000. Institutional investors and hedge funds own 47.86% of the company’s stock.

Profound Medical Price Performance

NASDAQ PROF opened at $6.81 on Tuesday. 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 50-day simple moving average of $6.94 and a 200 day simple moving average of $7.47. The stock has a market capitalization of $204.57 million, a PE ratio of -5.08 and a beta of 0.78. Profound Medical Corp. has a twelve month low of $5.63 and a twelve month high of $11.42.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.11. The business had revenue of $4.18 million for the quarter, compared to the consensus estimate of $5.92 million. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. Research analysts anticipate that Profound Medical Corp. will post -1.12 EPS for the current 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.