FY2024 Earnings Forecast for PROF Issued By Leede Financial

Profound Medical Corp. (NASDAQ:PROF - Free Report) - Leede Financial issued their FY2024 earnings estimates for shares of Profound Medical in a research report issued to clients and investors on Monday, November 4th. Leede Financial analyst D. Loe expects that the company will earn ($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.

Profound Medical (NASDAQ:PROF - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $2.50 million. During the same period in the prior year, the firm posted ($0.35) EPS.

PROF has been the topic of a number of other reports. Lake Street Capital initiated coverage on shares of Profound Medical in a research note on Tuesday, July 23rd. They set a "buy" rating and a $16.50 price objective on the stock. Stifel Nicolaus upgraded shares of 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 report on Tuesday, July 16th.

Profound Medical Stock Up 1.1 %

NASDAQ PROF traded up $0.09 during trading hours on Wednesday, reaching $8.00. 40,056 shares of the company traded hands, compared to its average volume of 40,343. Profound Medical has a 12 month low of $7.11 and a 12 month high of $11.69. 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 stock has a market capitalization of $197.28 million, a PE ratio of -6.56 and a beta of 0.83. The company has a 50 day moving average of $7.86 and a two-hundred day moving average of $8.44.

Institutional Trading of Profound Medical

A number of large investors have recently modified their holdings of the company. Gagnon Advisors LLC increased its holdings in shares of Profound Medical by 10.0% in the 1st quarter. Gagnon Advisors LLC now owns 747,226 shares of the company's stock worth $6,374,000 after acquiring an additional 67,930 shares during the period. Royce & Associates LP increased its holdings in shares of Profound Medical by 0.6% in the 3rd quarter. Royce & Associates LP now owns 569,298 shares of the company's stock worth $4,529,000 after acquiring an additional 3,500 shares during the period. Thompson Davis & CO. Inc. increased its holdings in shares of Profound Medical by 9.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company's stock worth $628,000 after acquiring an additional 6,150 shares during the period. Finally, Raymond James Trust N.A. acquired a new stake in shares of Profound Medical in the 2nd quarter worth about $88,000. Institutional investors and hedge funds 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.