Profound Medical (NASDAQ:PROF – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28), Zacks reports. Profound Medical had a negative return on equity of 70.08% and a negative net margin of 386.63%. The company had revenue of $2.23 million during the quarter, compared to the consensus estimate of $2.50 million. During the same quarter in the prior year, the firm posted ($0.35) EPS. Profound Medical updated its FY 2024 guidance to EPS.
Profound Medical Trading Down 2.8 %
NASDAQ PROF traded down $0.27 during midday trading on Friday, hitting $9.35. The company had a trading volume of 57,484 shares, compared to its average volume of 51,028. The firm has a 50-day moving average price of $9.23 and a 200-day moving average price of $8.57. The company has a market capitalization of $228.89 million, a PE ratio of -7.25 and a beta of 0.84. Profound Medical has a twelve month low of $7.11 and a twelve month high of $11.69.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upgraded Profound Medical from a “hold” rating to a “buy” rating and increased their target price for the stock from $9.00 to $12.00 in a research note on Tuesday, July 16th. Lake Street Capital initiated coverage on Profound Medical in a research report on Tuesday, July 23rd. They set a “buy” rating and a $16.50 price objective on the stock.
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.
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