Profound Medical (NASDAQ:PROF) Issues Earnings Results

Profound Medical (NASDAQ:PROF) released its quarterly earnings results on Thursday. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.12, Zacks reports. Profound Medical had a negative return on equity of 89.74% and a negative net margin of 343.97%.The company had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $6.99 million.

Profound Medical Stock Up 7.9%

Shares of NASDAQ PROF traded up $0.50 during mid-day trading on Friday, hitting $6.85. The company had a trading volume of 350,345 shares, compared to its average volume of 85,195. The company has a market capitalization of $206.83 million, a PE ratio of -4.69 and a beta of 0.67. The business’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.42. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 8.53 and a quick ratio of 7.07.

Institutional Investors Weigh In On Profound Medical

An institutional investor recently raised its position in Profound Medical stock. Raymond James Financial Inc. boosted its holdings in Profound Medical (NASDAQ:PROF) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 941,879 shares of the company’s stock after purchasing an additional 49,000 shares during the quarter. Raymond James Financial Inc. owned about 3.13% of Profound Medical worth $5,557,000 as of its most recent SEC filing. 47.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Profound Medical in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.00.

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.