130,000 Shares in Profound Medical $PROF Bought by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC bought a new position in shares of Profound Medical (NASDAQ:PROF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 130,000 shares of the company’s stock, valued at approximately $1,023,000.

Several other large investors have also bought and sold shares of PROF. Royal Bank of Canada raised its position in shares of Profound Medical by 3.5% in the 1st quarter. Royal Bank of Canada now owns 435,997 shares of the company’s stock worth $2,537,000 after acquiring an additional 14,795 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Profound Medical by 5.5% in the 2nd quarter. Raymond James Financial Inc. now owns 941,879 shares of the company’s stock worth $5,557,000 after acquiring an additional 49,000 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Profound Medical by 34.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 75,293 shares of the company’s stock worth $356,000 after acquiring an additional 19,220 shares in the last quarter. MMCAP International Inc. SPC raised its position in shares of Profound Medical by 2.0% in the 3rd quarter. MMCAP International Inc. SPC now owns 500,859 shares of the company’s stock worth $2,449,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Profound Medical by 12.4% in the 3rd quarter. Royce & Associates LP now owns 859,906 shares of the company’s stock worth $4,202,000 after acquiring an additional 95,000 shares in the last quarter. 47.86% of the stock is owned by institutional investors.

Profound Medical Trading Down 1.3%

PROF stock opened at $6.81 on Friday. The stock has a 50-day moving average price of $6.58 and a 200-day moving average price of $6.87. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.95. The firm has a market cap of $247.46 million, a PE ratio of -5.49 and a beta of 0.73.

Profound Medical (NASDAQ:PROF) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.05. Profound Medical had a negative return on equity of 78.88% and a negative net margin of 206.76%.The firm had revenue of $5.34 million during the quarter, compared to analyst estimates of $4.85 million. On average, analysts forecast that Profound Medical will post -0.88 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Profound Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.00.

About Profound Medical

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.