FY2024 Earnings Estimate for PROF Issued By Leede Financial

Profound Medical Corp. (NASDAQ:PROF) – Analysts at Leede Financial issued their FY2024 earnings per share (EPS) estimates for shares of Profound Medical in a note issued to investors 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) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.28). Profound Medical had a negative return on equity of 71.28% and a negative net margin of 350.14%. The business had revenue of $2.23 million during the quarter, compared to analyst estimates of $2.50 million. During the same quarter in the previous year, the firm earned ($0.35) EPS.

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

Profound Medical Price Performance

Shares of NASDAQ:PROF opened at $7.91 on Wednesday. The firm has a market cap of $195.06 million, a price-to-earnings ratio of -6.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.42 and a current ratio of 8.61. Profound Medical has a fifty-two week low of $7.11 and a fifty-two week high of $11.69. The business has a 50-day simple moving average of $7.88 and a two-hundred day simple moving average of $8.44.

Hedge Funds Weigh In On Profound Medical

Institutional investors have recently bought and sold shares of the stock. Raymond James Trust N.A. bought a new stake in Profound Medical during the second quarter valued at about $88,000. Thompson Davis & CO. Inc. raised 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 worth $628,000 after buying an additional 6,150 shares during the period. Finally, Gagnon Advisors LLC raised 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 worth $6,374,000 after buying an additional 67,930 shares during the period. 47.86% of the stock is owned by institutional investors.

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.