Raymond James Predicts Higher Earnings for Profound Medical

Profound Medical Corp. (NASDAQ:PROF - Free Report) - Raymond James upped their FY2024 earnings per share (EPS) estimates for shares of Profound Medical in a research note issued on Tuesday, February 18th. Raymond James analyst M. Freeman now anticipates that the company will earn ($1.18) per share for the year, up from their prior estimate of ($1.27). Raymond James has a "Strong-Buy" rating on the stock. The consensus estimate for Profound Medical's current full-year earnings is ($1.12) per share. Raymond James also issued estimates for Profound Medical's Q4 2024 earnings at ($0.26) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at ($0.26) EPS, FY2025 earnings at ($1.04) EPS, FY2026 earnings at ($0.79) EPS, FY2027 earnings at ($0.17) EPS and FY2028 earnings at $1.14 EPS.

Profound Medical Stock Performance

PROF traded up $0.04 during trading hours on Thursday, hitting $7.48. The stock had a trading volume of 110,590 shares, compared to its average volume of 85,432. The company's fifty day simple moving average is $7.01 and its 200 day simple moving average is $7.76. Profound Medical has a 1 year low of $5.63 and a 1 year high of $11.42. The stock has a market cap of $224.70 million, a PE ratio of -5.58 and a beta of 0.88. 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 Investors Weigh In On Profound Medical

Large investors have 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. XTX Topco Ltd purchased a new stake in Profound Medical in the 4th quarter worth about $114,000. MTM Investment Management LLC increased its holdings 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 acquiring an additional 1,750 shares during the last quarter. Marshall Wace LLP increased its holdings in Profound Medical by 201.6% in the 4th quarter. Marshall Wace LLP now owns 36,216 shares of the company's stock worth $272,000 after acquiring an additional 24,208 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its holdings in Profound Medical by 94.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company's stock worth $346,000 after acquiring an additional 22,500 shares during the last quarter. Hedge funds and other institutional investors own 47.86% of the company's stock.

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.