Raymond James Financial Inc. Acquires Shares of 875,709 Profound Medical Corp. (NASDAQ:PROF)

Raymond James Financial Inc. acquired a new stake in Profound Medical Corp. (NASDAQ:PROF) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 875,709 shares of the company’s stock, valued at approximately $6,577,000. Raymond James Financial Inc. owned about 2.92% of Profound Medical as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James Trust N.A. boosted its position in shares of Profound Medical by 14.3% during the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock worth $96,000 after purchasing an additional 1,500 shares in the last quarter. MTM Investment Management LLC boosted its position in shares of Profound Medical by 10.4% during the fourth quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after purchasing an additional 1,750 shares in the last quarter. Truist Financial Corp bought a new position in shares of Profound Medical during the fourth quarter worth $376,000. K2 Principal Fund L.P. bought a new position in shares of Profound Medical during the third quarter worth $398,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Profound Medical during the third quarter worth $612,000. 47.86% of the stock is owned by institutional investors.

Profound Medical Trading Down 1.9 %

Shares of NASDAQ PROF opened at $6.81 on Monday. The company’s fifty day moving average is $6.87 and its 200-day moving average is $7.41. The stock has a market cap of $204.57 million, a price-to-earnings 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. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11.

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

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.