FY2024 EPS Estimate for Profound Medical Boosted by Analyst

Profound Medical Corp. (NASDAQ:PROF) – Stock analysts at Raymond James raised their FY2024 earnings estimates for Profound Medical in a report released on Wednesday, December 11th. Raymond James analyst M. Freeman now forecasts that the company will earn ($1.27) per share for the year, up from their prior estimate of ($1.31). Raymond James has a “Strong-Buy” rating on the stock. The consensus estimate for Profound Medical’s current full-year earnings is ($1.15) per share. Raymond James also issued estimates for Profound Medical’s Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.13) EPS, FY2025 earnings at ($0.88) EPS, FY2026 earnings at ($0.14) EPS, FY2027 earnings at $1.06 EPS and FY2028 earnings at $2.43 EPS.

Profound Medical Stock Down 2.7 %

PROF opened at $7.20 on Monday. The company has a market cap of $216.23 million, a PE ratio of -5.37 and a beta of 0.88. Profound Medical has a twelve month low of $6.88 and a twelve month high of $11.42. The company has a 50-day moving average price of $7.77 and a 200 day moving average price of $8.47. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11.

Institutional Trading of Profound Medical

Large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Profound Medical during the 3rd quarter worth $612,000. K2 Principal Fund L.P. acquired a new position in Profound Medical during the third quarter worth about $398,000. Thompson Davis & CO. Inc. grew its stake in Profound Medical by 36.2% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock valued at $811,000 after acquiring an additional 27,100 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in Profound Medical during the 2nd quarter valued at about $88,000. Finally, Royce & Associates LP raised its holdings in Profound Medical by 0.6% in the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock valued at $4,529,000 after acquiring an additional 3,500 shares during the last quarter. 47.86% of the stock is currently owned by hedge funds and other 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.