Raymond James Forecasts Higher Earnings for Profound Medical

Profound Medical Corp. (NASDAQ:PROF) – Analysts at Raymond James lifted their FY2024 EPS estimates for Profound Medical in a note issued to investors on Wednesday, December 11th. Raymond James analyst M. Freeman now anticipates that the company will earn ($1.27) per share for the year, up from their prior estimate of ($1.31). Raymond James currently 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 Performance

NASDAQ:PROF opened at $7.20 on Monday. The company’s 50-day moving average is $7.77 and its two-hundred day moving average is $8.47. Profound Medical has a 1-year low of $6.88 and a 1-year high of $11.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. The firm has a market capitalization of $216.23 million, a price-to-earnings ratio of -5.37 and a beta of 0.88.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PROF. Raymond James Trust N.A. lifted its stake in Profound Medical by 14.3% during 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 in the last quarter. Royce & Associates LP lifted its position in shares of Profound Medical by 0.6% during the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after purchasing an additional 3,500 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of Profound Medical by 9.0% in the second 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. K2 Principal Fund L.P. acquired a new position in shares of Profound Medical in the third quarter valued at approximately $398,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Profound Medical in the third quarter valued at approximately $612,000. 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.