Crestwood Advisors Group LLC purchased a new stake in Profound Medical Corp. (NASDAQ:PROF – Get Rating) in the 2nd quarter, HoldingsChannel reports. The firm purchased 17,700 shares of the company’s stock, valued at approximately $129,000.
Several other institutional investors and hedge funds have also recently modified their holdings of PROF. Deerfield Management Company L.P. Series C boosted its holdings in Profound Medical by 32.1% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,713,797 shares of the company’s stock worth $19,246,000 after buying an additional 416,000 shares during the last quarter. Gagnon Securities LLC boosted its holdings in Profound Medical by 22.9% in the 1st quarter. Gagnon Securities LLC now owns 1,324,335 shares of the company’s stock worth $11,919,000 after buying an additional 246,978 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its holdings in Profound Medical by 58.0% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,299,125 shares of the company’s stock worth $11,701,000 after buying an additional 476,875 shares during the last quarter. Gagnon Advisors LLC boosted its holdings in Profound Medical by 9.7% in the 1st quarter. Gagnon Advisors LLC now owns 441,056 shares of the company’s stock worth $3,970,000 after buying an additional 38,879 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in Profound Medical by 22.9% in the 1st quarter. Royal Bank of Canada now owns 321,701 shares of the company’s stock worth $2,896,000 after buying an additional 59,998 shares during the last quarter. Hedge funds and other institutional investors own 43.01% of the company’s stock.
Analyst Ratings Changes
Separately, Raymond James lowered their price objective on Profound Medical from $17.50 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 8th.
Profound Medical Price Performance
Profound Medical (NASDAQ:PROF – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.14. The business had revenue of $2.03 million for the quarter, compared to analysts’ expectations of $1.90 million. Profound Medical had a negative return on equity of 38.97% and a negative net margin of 437.62%. As a group, research analysts expect that Profound Medical Corp. will post -1.27 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 magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, the United States, and Finland.
- Get a free copy of the StockNews.com research report on Profound Medical (PROF)
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