FY2024 Earnings Estimate for PROF Issued By Leede Financial

Profound Medical Corp. (NASDAQ:PROF) – Stock analysts at Leede Financial issued their FY2024 earnings estimates for Profound Medical in a research note issued on Monday, November 4th. Leede Financial analyst D. Loe expects that the company will post earnings per share of ($0.92) for the year. The consensus estimate for Profound Medical’s current full-year earnings is ($1.19) per share. Leede Financial also issued estimates for Profound Medical’s FY2025 earnings at ($0.20) EPS and FY2026 earnings at $0.10 EPS.

Profound Medical (NASDAQ:PROF) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). Profound Medical had a negative net margin of 350.14% and a negative return on equity of 71.28%. The firm had revenue of $2.23 million for the quarter, compared to analysts’ expectations of $2.50 million. During the same quarter last year, the business earned ($0.35) earnings per share.

Several other research analysts have also recently issued reports on PROF. Lake Street Capital started coverage on shares of Profound Medical in a report on Tuesday, July 23rd. They issued a “buy” rating and a $16.50 target price on the stock. Stifel Nicolaus raised Profound Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $9.00 to $12.00 in a research note on Tuesday, July 16th.

Profound Medical Stock Down 3.5 %

Shares of Profound Medical stock opened at $7.91 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.42 and a current ratio of 8.61. Profound Medical has a 52-week low of $7.11 and a 52-week high of $11.69. The stock has a market capitalization of $195.06 million, a price-to-earnings ratio of -6.48 and a beta of 0.83. The company’s 50 day moving average price is $7.88 and its 200-day moving average price is $8.44.

Institutional Trading of Profound Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Trust N.A. purchased a new stake in Profound Medical in the second quarter worth $88,000. Thompson Davis & CO. Inc. lifted its position 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, Gagnon Advisors LLC boosted its holdings in shares of Profound Medical by 10.0% during the 1st quarter. Gagnon Advisors LLC now owns 747,226 shares of the company’s stock valued at $6,374,000 after buying an additional 67,930 shares in the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.

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.