Profound Medical Corp. (NASDAQ:PROF) – Stock analysts at Raymond James dropped their Q3 2021 EPS estimates for shares of Profound Medical in a note issued to investors on Tuesday, October 26th. Raymond James analyst R. Sarugaser now anticipates that the company will post earnings per share of ($0.29) for the quarter, down from their prior estimate of ($0.27). Raymond James currently has a “Strong-Buy” rating and a $30.00 target price on the stock. Raymond James also issued estimates for Profound Medical’s Q4 2021 earnings at ($0.27) EPS, FY2021 earnings at ($1.27) EPS, Q1 2022 earnings at ($0.28) EPS, Q2 2022 earnings at ($0.24) EPS, Q3 2022 earnings at ($0.23) EPS, Q4 2022 earnings at ($0.19) EPS, FY2022 earnings at ($0.93) EPS, FY2023 earnings at ($0.29) EPS, FY2024 earnings at $0.99 EPS and FY2025 earnings at $2.48 EPS.
Profound Medical (NASDAQ:PROF) last released its quarterly earnings results on Wednesday, August 4th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Profound Medical had a negative return on equity of 30.12% and a negative net margin of 333.25%. The firm had revenue of $2.63 million for the quarter, compared to the consensus estimate of $2.27 million.
Profound Medical stock opened at $13.42 on Thursday. Profound Medical has a 52-week low of $12.85 and a 52-week high of $28.97. The firm has a 50 day moving average price of $14.74 and a two-hundred day moving average price of $16.65. The firm has a market cap of $273.59 million, a price-to-earnings ratio of -9.45 and a beta of 1.13.
A number of institutional investors have recently added to or reduced their stakes in PROF. TD Asset Management Inc. raised its holdings in Profound Medical by 9.7% during the 1st quarter. TD Asset Management Inc. now owns 17,641 shares of the company’s stock worth $354,000 after purchasing an additional 1,565 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in shares of Profound Medical by 22.2% in the 1st quarter. Parkman Healthcare Partners LLC now owns 84,399 shares of the company’s stock valued at $1,700,000 after acquiring an additional 15,350 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Profound Medical by 30.3% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 173,784 shares of the company’s stock valued at $3,500,000 after acquiring an additional 40,368 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of Profound Medical by 86.7% in the 1st quarter. Deerfield Management Company L.P. Series C now owns 1,297,797 shares of the company’s stock valued at $26,138,000 after acquiring an additional 602,797 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Profound Medical in the 1st quarter valued at $250,000. Hedge funds and other institutional investors own 42.79% of the company’s stock.
About Profound Medical
Profound Medical Corp. develops, manufactures and markets therapeutic platforms that combine real-time magnetic resonance imaging with directional and focused ultrasound technology for incision-free ablation of diseased tissue. The firm’s platforms offer clinicians and patients incision-free alternatives to current standards of care, which could include traditional surgery or radiation therapy.
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