FY2024 EPS Forecast for Profound Medical Raised by Analyst

Profound Medical Corp. (NASDAQ:PROF) – Research analysts at Raymond James boosted their FY2024 earnings estimates for Profound Medical in a research note issued to investors on Tuesday, February 18th. Raymond James analyst M. Freeman now forecasts that the company will earn ($1.18) per share for the year, up from their previous forecast of ($1.27). Raymond James currently has a “Strong-Buy” rating on the stock. The consensus estimate for Profound Medical’s current full-year earnings is ($1.15) per share. Raymond James also issued estimates for Profound Medical’s Q4 2024 earnings at ($0.26) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at ($0.26) EPS, FY2025 earnings at ($1.04) EPS, FY2026 earnings at ($0.79) EPS, FY2027 earnings at ($0.17) EPS and FY2028 earnings at $1.14 EPS.

Profound Medical Price Performance

Shares of PROF opened at $7.44 on Thursday. The company has a 50 day moving average of $7.01 and a 200-day moving average of $7.76. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $223.50 million, a P/E ratio of -5.55 and a beta of 0.88. Profound Medical has a twelve month low of $5.63 and a twelve month high of $11.42.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC bought a new stake in shares of Profound Medical during the 4th quarter worth approximately $1,502,000. Maven Securities LTD bought a new position in Profound Medical in the 4th quarter valued at about $376,000. Letko Brosseau & Associates Inc. increased its stake in shares of Profound Medical by 1.0% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,211,150 shares of the company’s stock worth $8,689,000 after purchasing an additional 12,375 shares during the period. Bleichroeder LP lifted its holdings in shares of Profound Medical by 37.5% during the fourth quarter. Bleichroeder LP now owns 183,333 shares of the company’s stock worth $1,377,000 after buying an additional 50,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Profound Medical in the 4th quarter worth about $1,202,000. Institutional investors own 47.86% of the company’s stock.

About Profound Medical

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.