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In recent transactions, Arun Menawat, the CEO of Profound Medical (TASE:BLWV) Corp. (NASDAQ:PROF), acquired a total of 22,030 common shares of the company. The purchases, made on May 15 and May 16, were executed at prices ranging from $4.325 to $4.73 per share, amounting to a total investment of $100,150. The timing appears strategic, as InvestingPro data shows the stock has fallen over 35% in the past six months, while analysts maintain a strong buy consensus with significant upside potential.
Following these transactions, Menawat’s direct ownership in Profound Medical increased to 587,089 shares. The purchases were executed in multiple transactions, with prices for the May 15 acquisition ranging between $4.30 and $4.35 per share, and for the May 16 acquisition ranging between $4.70 and $4.78 per share. According to InvestingPro, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 11.3x, suggesting robust liquidity.
These transactions are part of an informational and voluntary report, as Profound Medical’s securities are currently exempt from certain reporting requirements under U.S. securities law. For deeper insights into PROF’s valuation, financial health, and growth prospects, access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Profound Medical Corp. has been actively addressing financial and strategic developments. The company recently corrected an overstated revenue figure by $472,000 for the first quarter of 2024, transitioning its financial statements from IFRS to U.S. GAAP to ensure accuracy and compliance. In addition, Profound Medical reported fourth-quarter 2024 revenues of $4.17 million, marking a 108% increase year-over-year, driven by capital and recurring sales. Stifel analysts maintained a Buy rating with a $12 target, reflecting confidence in the company’s growth potential.
Conversely, Raymond (NSE:RYMD) James downgraded Profound Medical’s stock rating from Strong Buy to Outperform, citing unmet revenue expectations and increased operational expenses. Despite this, Raymond James remains optimistic about the potential of Profound Medical’s TULSA™ procedure, anticipating significant revenue growth in the latter half of 2025. Meanwhile, the company has scheduled its Annual and Special Meeting of Shareholders for April 2025, providing investors with insights into its governance and future direction. Profound Medical’s recent commercial initiatives include targeting top U.S. cancer centers and expanding its sales force to enhance the adoption of its TULSA technology. These developments underscore the company’s commitment to transparency and strategic growth.
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