Profound Medical Corp. (NASDAQ:PROF) Stock Holdings Increased by Altium Capital Management LP

Altium Capital Management LP grew its stake in shares of Profound Medical Corp. (NASDAQ:PROF) by 66.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,280 shares of the company’s stock after purchasing an additional 83,853 shares during the quarter. Altium Capital Management LP owned approximately 1.03% of Profound Medical worth $3,440,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in shares of Profound Medical during the 2nd quarter valued at $177,000. Schonfeld Strategic Advisors LLC acquired a new position in Profound Medical during the first quarter worth $250,000. TD Asset Management Inc. boosted its holdings in Profound Medical by 9.7% during the first quarter. TD Asset Management Inc. now owns 17,641 shares of the company’s stock valued at $354,000 after acquiring an additional 1,565 shares during the period. Golden State Equity Partners bought a new stake in Profound Medical during the second quarter valued at about $430,000. Finally, Morgan Stanley lifted its stake in shares of Profound Medical by 20.0% in the first quarter. Morgan Stanley now owns 53,463 shares of the company’s stock valued at $1,077,000 after buying an additional 8,893 shares during the period. 42.79% of the stock is owned by institutional investors.

A number of brokerages have commented on PROF. Raymond James set a $36.00 price target on shares of Profound Medical and gave the stock a “strong-buy” rating in a research note on Thursday, September 30th. Zacks Investment Research lowered shares of Profound Medical from a “hold” rating to a “sell” rating in a report on Thursday, October 7th.

PROF stock traded down $0.08 during midday trading on Thursday, hitting $15.12. The company’s stock had a trading volume of 1,227 shares, compared to its average volume of 68,637. Profound Medical Corp. has a twelve month low of $13.37 and a twelve month high of $28.97. The company’s fifty day moving average price is $14.85 and its 200 day moving average price is $16.81. The stock has a market capitalization of $308.25 million, a P/E ratio of -10.70 and a beta of 1.13.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings results on Wednesday, August 4th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The business had revenue of $2.63 million during the quarter, compared to analyst estimates of $2.27 million. Profound Medical had a negative net margin of 333.25% and a negative return on equity of 30.12%. As a group, equities research analysts forecast that Profound Medical Corp. will post -1.03 earnings per share for the current fiscal year.

Profound Medical Company Profile

Profound Medical Corp. develops, manufactures and markets therapeutic platforms that combine real-time magnetic resonance imaging with directional and focused ultrasound technology for incision-free ablation of diseased tissue. The firm’s platforms offer clinicians and patients incision-free alternatives to current standards of care, which could include traditional surgery or radiation therapy.

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Institutional Ownership by Quarter for Profound Medical (NASDAQ:PROF)

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