$2.41 Million in Sales Expected for Profound Medical Corp. (NYSE:PROF) This Quarter

Wall Street analysts forecast that Profound Medical Corp. (NYSE:PROF) will report sales of $2.41 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Profound Medical’s earnings. The lowest sales estimate is $1.97 million and the highest is $2.85 million. Profound Medical reported sales of $2.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.7%. The firm is expected to report its next earnings results on Tuesday, March 2nd.

On average, analysts expect that Profound Medical will report full-year sales of $9.86 million for the current fiscal year, with estimates ranging from $6.52 million to $15.79 million. For the next financial year, analysts forecast that the firm will post sales of $25.83 million, with estimates ranging from $17.27 million to $39.82 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Profound Medical.

Profound Medical (NYSE:PROF) last released its earnings results on Thursday, November 5th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.09). The company had revenue of $2.24 million during the quarter, compared to analysts’ expectations of $2.30 million.

Several equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Profound Medical in a research note on Tuesday, September 15th. They issued a “buy” rating for the company. Alliance Global Partners restated a “buy” rating and set a $18.00 price target (up from $15.00) on shares of Profound Medical in a research note on Friday, August 7th. Zacks Investment Research upgraded Profound Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Raymond James upped their price target on Profound Medical from $38.00 to $43.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 31st. Finally, Lake Street Capital assumed coverage on Profound Medical in a research note on Thursday, September 10th. They set a “buy” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.40.

Several hedge funds and other institutional investors have recently modified their holdings of PROF. Zweig DiMenna Associates LLC purchased a new stake in shares of Profound Medical in the second quarter worth about $3,169,000. Taylor Wealth Management Partners boosted its position in shares of Profound Medical by 48.0% in the third quarter. Taylor Wealth Management Partners now owns 166,364 shares of the company’s stock worth $2,935,000 after buying an additional 53,937 shares during the period. Gagnon Securities LLC boosted its position in shares of Profound Medical by 6.5% in the third quarter. Gagnon Securities LLC now owns 779,533 shares of the company’s stock worth $13,751,000 after buying an additional 47,818 shares during the period. Barometer Capital Management Inc. purchased a new stake in shares of Profound Medical in the second quarter worth about $1,097,000. Finally, Letko Brosseau & Associates Inc. purchased a new stake in shares of Profound Medical in the third quarter worth about $811,000.

Profound Medical stock opened at $18.58 on Thursday. The stock has a fifty day moving average price of $17.68 and a 200 day moving average price of $15.50. Profound Medical has a 52 week low of $6.53 and a 52 week high of $20.60.

Profound Medical Company Profile

Profound Medical Corp. operates as a medical technology company develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, and Finland. Its lead product TULSA-PRO system used for magnetic resonance imaging scanner in hospitals and treatment facilities.

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Earnings History and Estimates for Profound Medical (NYSE:PROF)

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