Wall Street Zen upgraded shares of Profound Medical (NASDAQ:PROF – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.
PROF has been the topic of several other reports. Raymond James Financial upgraded Profound Medical from an “outperform” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Monday, July 27th. Weiss Ratings upgraded Profound Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.
Read Our Latest Research Report on PROF
Profound Medical Stock Up 5.1%
Profound Medical (NASDAQ:PROF – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The business had revenue of $2.48 million during the quarter, compared to analyst estimates of $4.75 million. Profound Medical had a negative return on equity of 63.03% and a negative net margin of 171.57%. Research analysts anticipate that Profound Medical will post -0.79 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gagnon Securities LLC increased its position in Profound Medical by 12.2% in the 4th quarter. Gagnon Securities LLC now owns 1,944,061 shares of the company’s stock valued at $15,300,000 after acquiring an additional 211,021 shares in the last quarter. Ardsley Advisory Partners LP lifted its position in shares of Profound Medical by 36.4% during the fourth quarter. Ardsley Advisory Partners LP now owns 450,000 shares of the company’s stock worth $3,542,000 after purchasing an additional 120,000 shares in the last quarter. Connective Capital Management LLC acquired a new position in shares of Profound Medical during the fourth quarter worth approximately $787,000. Gagnon Advisors LLC grew its stake in shares of Profound Medical by 7.3% during the fourth quarter. Gagnon Advisors LLC now owns 962,186 shares of the company’s stock valued at $7,572,000 after purchasing an additional 65,515 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Profound Medical during the first quarter valued at approximately $259,000. Institutional investors and hedge funds own 47.86% of the company’s stock.
Profound Medical Company Profile
Profound Medical Corp. (NASDAQ:PROF) is a medical technology company focused on developing and commercializing incisionless therapies for localized prostate disease. The company’s flagship product is the TULSA-PRO system, which uses real-time magnetic resonance imaging (MRI) guidance and transurethral ultrasound to deliver controlled thermal ablation to targeted prostate tissue.
TULSA-PRO is designed to enable physicians to customize treatment based on a patient’s prostate anatomy and disease location.
Featured Articles
- Five stocks we like better than Profound Medical
- Salesforce Just Got a Rare Double Upgrade—What Changed?
- OpenAI’s Revenue Scare Could Be a Big Opportunity for Investors
- China Still Dominates Rare Earths—These 3 U.S. Companies Could Benefit
- 3 REITs That May Win in a Higher Interest Rate Environment
Receive News & Ratings for Profound Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Profound Medical and related companies with MarketBeat.com's FREE daily email newsletter.
