Connor Clark & Lunn Investment Management Ltd. Invests $612,000 in Profound Medical Corp. (NASDAQ:PROF)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Profound Medical Corp. (NASDAQ:PROF) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,900 shares of the company’s stock, valued at approximately $612,000. Connor Clark & Lunn Investment Management Ltd. owned 0.31% of Profound Medical as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. grew its position in shares of Profound Medical by 36.2% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock valued at $811,000 after acquiring an additional 27,100 shares during the period. Raymond James Trust N.A. purchased a new position in Profound Medical in the second quarter valued at approximately $88,000. Finally, Royce & Associates LP grew its holdings in Profound Medical by 0.6% during the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock valued at $4,529,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Performance

Shares of PROF stock opened at $8.15 on Friday. The firm’s 50 day moving average is $7.76 and its 200 day moving average is $8.46. The stock has a market capitalization of $201.00 million, a P/E ratio of -6.08 and a beta of 0.83. Profound Medical Corp. has a 12 month low of $7.11 and a 12 month high of $11.42. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded Profound Medical to a “strong-buy” rating in a research note on Saturday, November 9th.

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.