Bleichroeder LP Increases Stake in Profound Medical Corp. (NASDAQ:PROF)

Bleichroeder LP lifted its stake in Profound Medical Corp. (NASDAQ:PROF - Free Report) by 37.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,333 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Profound Medical comprises about 0.3% of Bleichroeder LP's holdings, making the stock its 29th largest holding. Bleichroeder LP owned 0.61% of Profound Medical worth $1,377,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PROF. Gagnon Securities LLC grew its holdings in shares of Profound Medical by 12.6% during the 4th quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company's stock worth $12,411,000 after purchasing an additional 185,284 shares during the period. Gagnon Advisors LLC lifted its holdings in shares of Profound Medical by 20.0% in the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company's stock worth $6,734,000 after acquiring an additional 149,445 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Profound Medical during the 4th quarter worth approximately $376,000. Ring Mountain Capital LLC acquired a new stake in shares of Profound Medical in the fourth quarter valued at $2,087,000. Finally, Vestcor Inc acquired a new position in Profound Medical in the 4th quarter valued at about $376,000. Institutional investors and hedge funds own 47.86% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital cut their price objective on Profound Medical from $17.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd.

Profound Medical Stock Down 7.0 %

Shares of NASDAQ PROF traded down $0.35 during midday trading on Friday, hitting $4.63. 154,531 shares of the company's stock were exchanged, compared to its average volume of 61,228. The firm's fifty day simple moving average is $5.58 and its 200-day simple moving average is $6.74. The company has a market cap of $139.15 million, a PE ratio of -3.46 and a beta of 0.44. Profound Medical Corp. has a twelve month low of $3.90 and a twelve month high of $11.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16.

Profound Medical (NASDAQ:PROF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. The company had revenue of $2.62 million during the quarter, compared to analyst estimates of $4.78 million. Research analysts predict that Profound Medical Corp. will post -1.12 EPS for the current fiscal year.

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.