50,000 Shares in Profound Medical Corp. (NASDAQ:PROF) Purchased by Truist Financial Corp

Truist Financial Corp acquired a new position in Profound Medical Corp. (NASDAQ:PROF) in the 4th quarter, HoldingsChannel reports. The fund acquired 50,000 shares of the company’s stock, valued at approximately $376,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its holdings in Profound Medical by 14.3% in the 3rd quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock worth $96,000 after acquiring an additional 1,500 shares during the last quarter. MTM Investment Management LLC boosted its stake in Profound Medical by 10.4% in the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after purchasing an additional 1,750 shares during the period. K2 Principal Fund L.P. bought a new position in Profound Medical in the 3rd quarter worth about $398,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Profound Medical in the 3rd quarter worth about $612,000. Finally, Thompson Davis & CO. Inc. boosted its stake in Profound Medical by 36.2% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock worth $811,000 after purchasing an additional 27,100 shares during the period. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Analysts Set New Price Targets

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

Profound Medical Stock Performance

Shares of PROF opened at $7.12 on Wednesday. The company has a market cap of $213.88 million, a PE ratio of -5.31 and a beta of 0.88. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $7.02 and a 200-day moving average price of $7.61. Profound Medical Corp. has a 12-month low of $5.63 and a 12-month high of $11.42.

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.