Raymond James Comments on Profound Medical Corp.’s Q3 2023 Earnings (NASDAQ:PROF)

Posted by on Aug 14th, 2023

Profound Medical Corp. (NASDAQ:PROF – Free Report) – Investment analysts at Raymond James increased their Q3 2023 EPS estimates for shares of Profound Medical in a report issued on Thursday, August 10th. Raymond James analyst R. Sarugaser now anticipates that the company will earn ($0.31) per share for the quarter, up from their previous forecast of ($0.35). Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Profound Medical’s current full-year earnings is ($1.29) per share. Raymond James also issued estimates for Profound Medical’s Q4 2023 earnings at ($0.31) EPS, FY2023 earnings at ($1.29) EPS, Q1 2024 earnings at ($0.31) EPS, Q2 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.28) EPS, FY2025 earnings at ($1.05) EPS, FY2026 earnings at ($0.73) EPS and FY2027 earnings at ($0.09) EPS.

Profound Medical Stock Down 3.9 %

PROF stock opened at $9.73 on Monday. The company has a market cap of $206.86 million, a price-to-earnings ratio of -7.10 and a beta of 0.75. The business has a fifty day simple moving average of $12.62 and a 200-day simple moving average of $12.02. Profound Medical has a 52 week low of $3.10 and a 52 week high of $15.49.

Institutional Investors Weigh In On Profound Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in PROF. Gagnon Securities LLC increased its position in Profound Medical by 0.6% during the 4th quarter. Gagnon Securities LLC now owns 1,778,205 shares of the company’s stock worth $19,365,000 after purchasing an additional 11,350 shares in the last quarter. Gagnon Advisors LLC boosted its position in Profound Medical by 4.8% during the 2nd quarter. Gagnon Advisors LLC now owns 679,296 shares of the company’s stock worth $8,838,000 after purchasing an additional 30,831 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Profound Medical by 13.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 581,236 shares of the company’s stock valued at $7,562,000 after purchasing an additional 68,533 shares in the last quarter. Royce & Associates LP raised its position in Profound Medical by 4.2% in the first quarter. Royce & Associates LP now owns 571,098 shares of the company’s stock valued at $5,295,000 after purchasing an additional 22,900 shares during the period. Finally, Royal Bank of Canada raised its position in Profound Medical by 22.9% in the first quarter. Royal Bank of Canada now owns 321,701 shares of the company’s stock valued at $2,896,000 after purchasing an additional 59,998 shares during the period. 36.54% of the stock is currently owned by institutional investors and hedge funds.

Profound Medical Company Profile

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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.

See Also

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

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