What is Leede Financial’s Forecast for PROF FY2024 Earnings?

Profound Medical Corp. (NASDAQ:PROF) – Leede Financial issued their FY2024 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 earn ($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 released its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). The firm had revenue of $2.23 million during the quarter, compared to analysts’ expectations of $2.50 million. Profound Medical had a negative net margin of 350.14% and a negative return on equity of 71.28%. During the same period in the previous year, the business posted ($0.35) earnings per share.

Other analysts also recently issued reports about the company. Lake Street Capital began coverage on Profound Medical in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $16.50 price target for the company. Stifel Nicolaus raised shares of Profound Medical from a “hold” rating to a “buy” rating and boosted their target price for the company from $9.00 to $12.00 in a research report on Tuesday, July 16th.

Profound Medical Stock Performance

NASDAQ PROF opened at $8.00 on Wednesday. The stock has a market cap of $197.30 million, a PE ratio of -6.56 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. The firm has a 50-day moving average of $7.86 and a 200-day moving average of $8.44. Profound Medical has a 52-week low of $7.11 and a 52-week high of $11.69.

Institutional Investors Weigh In On Profound Medical

Institutional investors have recently made changes to their positions in the stock. Gagnon Advisors LLC raised its holdings in Profound Medical by 10.0% in the 1st quarter. Gagnon Advisors LLC now owns 747,226 shares of the company’s stock valued at $6,374,000 after acquiring an additional 67,930 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in Profound Medical by 9.0% in the second quarter. Thompson Davis & CO. Inc. now owns 74,800 shares of the company’s stock valued at $628,000 after purchasing an additional 6,150 shares in the last quarter. Raymond James Trust N.A. bought a new stake in Profound Medical during the second quarter worth about $88,000. Finally, Royce & Associates LP grew its stake in Profound Medical by 0.6% during the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after buying an additional 3,500 shares in the last quarter. 47.86% of the stock is currently 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.