Raymond James Has Positive Outlook for PROF FY2024 Earnings

Profound Medical Corp. (NASDAQ:PROF - Free Report) - Stock analysts at Raymond James increased their FY2024 EPS estimates for Profound Medical in a note issued to investors on Wednesday, December 11th. Raymond James analyst M. Freeman now forecasts that the company will post earnings per share of ($1.27) for the year, up from their previous 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 Price Performance

Profound Medical stock traded down $0.20 during trading on Monday, reaching $7.20. The company had a trading volume of 106,449 shares, compared to its average volume of 45,294. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.16 and a current ratio of 6.12. The firm's 50-day simple moving average is $7.78 and its 200 day simple moving average is $8.47. The firm has a market capitalization of $216.23 million, a PE ratio of -5.52 and a beta of 0.88. Profound Medical has a 1-year low of $6.88 and a 1-year high of $11.42.

Institutional Trading of Profound Medical

A number of institutional investors and hedge funds have recently modified their holdings of PROF. K2 Principal Fund L.P. purchased a new stake in Profound Medical during the 3rd quarter worth approximately $398,000. Raymond James Trust N.A. increased its position in shares of Profound Medical by 14.3% during the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company's stock worth $96,000 after purchasing an additional 1,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Profound Medical during the third quarter worth approximately $612,000. Thompson Davis & CO. Inc. raised its stake in Profound Medical by 36.2% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company's stock valued at $811,000 after purchasing an additional 27,100 shares during the last quarter. Finally, Royce & Associates LP lifted 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 purchasing an additional 3,500 shares in 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.