277,859 Shares in Profound Medical Corp. (NASDAQ:PROF) Bought by Ring Mountain Capital LLC

Ring Mountain Capital LLC bought a new position in shares of Profound Medical Corp. (NASDAQ:PROF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 277,859 shares of the company’s stock, valued at approximately $2,087,000. Profound Medical makes up about 1.4% of Ring Mountain Capital LLC’s investment portfolio, making the stock its 17th largest holding. Ring Mountain Capital LLC owned 0.92% of Profound Medical at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PROF. Gagnon Securities LLC boosted its stake in Profound Medical by 12.6% in the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock valued at $12,411,000 after acquiring an additional 185,284 shares in the last quarter. Gagnon Advisors LLC boosted its stake in Profound Medical by 20.0% in the fourth quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock valued at $6,734,000 after acquiring an additional 149,445 shares in the last quarter. Royce & Associates LP boosted its stake in Profound Medical by 0.6% in the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock valued at $4,529,000 after acquiring an additional 3,500 shares in the last quarter. MMCAP International Inc. SPC acquired a new position in Profound Medical in the fourth quarter valued at $3,680,000. Finally, Thompson Davis & CO. Inc. boosted its stake in Profound Medical by 78.9% in the fourth quarter. Thompson Davis & CO. Inc. now owns 182,295 shares of the company’s stock valued at $1,369,000 after acquiring an additional 80,395 shares in the last quarter. Institutional investors and hedge funds own 47.86% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Profound Medical Price Performance

Shares of PROF opened at $6.99 on Tuesday. Profound Medical Corp. has a fifty-two week low of $5.63 and a fifty-two week high of $11.42. The company has a market capitalization of $209.98 million, a price-to-earnings ratio of -5.22 and a beta of 0.88. The firm has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $7.63. 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 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.