FY2024 Earnings Forecast for PROF Issued By Leede Financial

Profound Medical Corp. (NASDAQ:PROF) – Investment analysts at Leede Financial issued their FY2024 earnings per share estimates for Profound Medical in a research report issued on Monday, November 4th. Leede Financial analyst D. Loe expects 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.

Profound Medical (NASDAQ:PROF) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). The firm had revenue of $2.23 million during the quarter, compared to the consensus estimate 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 firm earned ($0.35) earnings per share.

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

Profound Medical Stock Up 12.0 %

Shares of NASDAQ PROF opened at $8.96 on Wednesday. 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 has a market cap of $220.97 million, a price-to-earnings ratio of -7.26 and a beta of 0.83. Profound Medical has a 12 month low of $7.11 and a 12 month high of $11.69. The stock has a 50-day moving average price of $7.84 and a two-hundred day moving average price of $8.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PROF. Gagnon Advisors LLC increased its stake in shares of Profound Medical by 10.0% in the first 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 period. Thompson Davis & CO. Inc. increased its position in Profound Medical by 9.0% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock valued at $628,000 after purchasing an additional 6,150 shares during the period. Raymond James Trust N.A. acquired a new stake in Profound Medical during the 2nd quarter valued at approximately $88,000. Finally, Royce & Associates LP increased its position in Profound Medical by 0.6% during 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 during the period. Institutional investors and hedge funds 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.