Zweig DiMenna Associates LLC Acquires Shares of 130,000 Profound Medical $PROF

Zweig DiMenna Associates LLC acquired a new stake in Profound Medical (NASDAQ:PROF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 130,000 shares of the company’s stock, valued at approximately $1,023,000. Zweig DiMenna Associates LLC owned 0.36% of Profound Medical as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MMCAP International Inc. SPC grew its position in shares of Profound Medical by 6.1% in the fourth quarter. MMCAP International Inc. SPC now owns 531,362 shares of the company’s stock valued at $4,182,000 after purchasing an additional 30,503 shares during the last quarter. Royce & Associates LP grew its position in shares of Profound Medical by 15.2% in the fourth quarter. Royce & Associates LP now owns 990,348 shares of the company’s stock valued at $7,771,000 after purchasing an additional 130,442 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Profound Medical during the 4th quarter valued at $784,000. Perkins Capital Management Inc. bought a new stake in shares of Profound Medical during the 4th quarter valued at $899,000. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Profound Medical by 7.3% in the 4th quarter. First Eagle Investment Management LLC now owns 312,707 shares of the company’s stock valued at $2,461,000 after purchasing an additional 21,316 shares in the last quarter. Institutional investors and hedge funds own 47.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Profound Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.00.

Profound Medical Stock Down 1.3%

Shares of NASDAQ:PROF opened at $6.81 on Friday. The firm has a market cap of $247.46 million, a P/E ratio of -5.49 and a beta of 0.73. Profound Medical has a 12-month low of $3.76 and a 12-month high of $8.95. The business has a fifty day simple moving average of $6.58 and a 200 day simple moving average of $6.87.

Profound Medical (NASDAQ:PROF) last announced its earnings results on Thursday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.05. The business had revenue of $5.34 million during the quarter, compared to analyst estimates of $4.85 million. Profound Medical had a negative return on equity of 78.88% and a negative net margin of 206.76%. As a group, equities research analysts expect that Profound Medical will post -0.88 EPS for the current year.

About Profound Medical

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.