Vestcor Inc Invests $376,000 in Profound Medical Corp. (NASDAQ:PROF)

Vestcor Inc bought a new stake in Profound Medical Corp. (NASDAQ:PROF) in the fourth quarter, Holdings Channel reports. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $376,000.

A number of other large investors have also modified their holdings of the company. Raymond James Trust N.A. boosted its holdings in Profound Medical by 14.3% during the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock valued at $96,000 after purchasing an additional 1,500 shares in the last quarter. MTM Investment Management LLC lifted its position in shares of Profound Medical by 10.4% during the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after buying an additional 1,750 shares during the period. Truist Financial Corp acquired a new stake in Profound Medical in the 4th quarter valued at $376,000. K2 Principal Fund L.P. bought a new stake in Profound Medical in the third quarter valued at $398,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Profound Medical during the third quarter worth $612,000. 47.86% of the stock is currently owned by institutional investors and hedge funds.

Profound Medical Stock Down 2.0 %

Shares of NASDAQ:PROF opened at $6.81 on Tuesday. The company’s fifty day moving average is $6.94 and its 200-day moving average is $7.47. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12. Profound Medical Corp. has a 52 week low of $5.63 and a 52 week high of $11.42. The company has a market capitalization of $204.57 million, a PE ratio of -5.08 and a beta of 0.78.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.11. The firm had revenue of $4.18 million for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal 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.