Thompson Davis & CO. Inc. Decreases Stake in Profound Medical Corp. (NASDAQ:PROF)

Thompson Davis & CO. Inc. reduced its stake in shares of Profound Medical Corp. (NASDAQ:PROF) by 20.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,425 shares of the company’s stock after selling 17,950 shares during the period. Profound Medical makes up about 0.5% of Thompson Davis & CO. Inc.’s holdings, making the stock its 23rd largest position. Thompson Davis & CO. Inc. owned about 0.28% of Profound Medical worth $581,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Profound Medical by 13.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 622,552 shares of the company’s stock worth $5,285,000 after buying an additional 71,845 shares in the last quarter. Zweig DiMenna Associates LLC boosted its position in shares of Profound Medical by 49.7% in the 4th quarter. Zweig DiMenna Associates LLC now owns 130,617 shares of the company’s stock worth $1,109,000 after buying an additional 43,343 shares in the last quarter. Raymond James & Associates boosted its position in shares of Profound Medical by 8.2% in the 3rd quarter. Raymond James & Associates now owns 67,731 shares of the company’s stock worth $691,000 after buying an additional 5,125 shares in the last quarter. Finally, MTM Investment Management LLC boosted its position in shares of Profound Medical by 8.2% in the 3rd quarter. MTM Investment Management LLC now owns 19,875 shares of the company’s stock worth $203,000 after buying an additional 1,500 shares in the last quarter. 47.86% of the stock is currently owned by hedge funds and other institutional investors.

Profound Medical Price Performance

PROF stock traded down $0.26 during trading on Tuesday, hitting $7.44. The stock had a trading volume of 17,644 shares, compared to its average volume of 40,266. The company’s 50 day moving average price is $8.26 and its two-hundred day moving average price is $8.73. Profound Medical Corp. has a 1-year low of $7.11 and a 1-year high of $15.49. The stock has a market cap of $181.76 million, a price-to-earnings ratio of -5.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.48 and a current ratio of 6.58.

Profound Medical (NASDAQ:PROF) last announced its earnings results on Thursday, March 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.14). Profound Medical had a negative net margin of 396.85% and a negative return on equity of 70.18%. The firm had revenue of $2.01 million during the quarter, compared to analyst estimates of $1.90 million. On average, sell-side analysts forecast that Profound Medical Corp. will post -1.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners decreased their price objective on shares of Profound Medical from $14.25 to $12.75 and set a “buy” rating on the stock in a research report on Thursday, January 4th.

Profound Medical Company 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.