FY2024 Earnings Estimate for PROF Issued By Leede Financial

Profound Medical Corp. (NASDAQ:PROF) – Analysts at Leede Financial issued their FY2024 earnings per share estimates for shares of Profound Medical in a research note issued on Monday, November 4th. Leede Financial analyst D. Loe anticipates that the company will post earnings of ($0.92) per share 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.

Several other brokerages also recently commented on PROF. Stifel Nicolaus raised shares of Profound Medical from a “hold” rating to a “buy” rating and increased their price objective for the company from $9.00 to $12.00 in a research note on Tuesday, July 16th. Lake Street Capital initiated coverage on shares of Profound Medical in a report on Tuesday, July 23rd. They set a “buy” rating and a $16.50 price target for the company.

Profound Medical Trading Up 1.1 %

PROF opened at $8.00 on Wednesday. The company has a market cap of $197.30 million, a P/E ratio of -6.56 and a beta of 0.83. The company has a current ratio of 8.61, a quick ratio of 7.42 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $7.86 and its 200-day moving average is $8.44. Profound Medical has a 1-year low of $7.11 and a 1-year high of $11.69.

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

Institutional Trading of Profound Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gagnon Advisors LLC raised its holdings in Profound Medical by 10.0% in 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 during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of 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 acquiring an additional 6,150 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Profound Medical during the second quarter worth $88,000. Finally, Royce & Associates LP grew its stake in shares of Profound Medical by 0.6% in the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after purchasing an additional 3,500 shares during the last quarter. 47.86% of the stock is currently owned by institutional investors.

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.