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

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Profound Medical Corp. (NASDAQ:PROF) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 76,900 shares of the company’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Trust N.A. purchased a new position in shares of Profound Medical during the 2nd quarter valued at $88,000. Thompson Davis & CO. Inc. boosted its stake in Profound Medical by 9.0% during the second quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock valued at $628,000 after buying an additional 6,150 shares during the period. Finally, Royce & Associates LP increased its stake in Profound Medical by 0.6% in the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors own 47.86% of the company’s stock.

Profound Medical Stock Performance

NASDAQ PROF opened at $8.15 on Friday. Profound Medical Corp. has a 52-week low of $7.11 and a 52-week high of $11.42. The company has a fifty day moving average of $7.76 and a 200-day moving average of $8.46. The company has a market capitalization of $201.00 million, a P/E ratio of -6.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12.

Analysts Set New Price Targets

Separately, Raymond James upgraded Profound Medical to a “strong-buy” rating in a research report 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.