Profound Medical Corp. to Post Q2 2022 Earnings of ($0.39) Per Share, Jefferies Financial Group Forecasts (NASDAQ:PROF)

Profound Medical Corp. (NASDAQ:PROFGet Rating) – Equities researchers at Jefferies Financial Group dropped their Q2 2022 EPS estimates for shares of Profound Medical in a note issued to investors on Monday, May 9th. Jefferies Financial Group analyst Z. Weiner now forecasts that the company will earn ($0.39) per share for the quarter, down from their prior forecast of ($0.33). Jefferies Financial Group also issued estimates for Profound Medical’s Q3 2022 earnings at ($0.29) EPS, Q4 2022 earnings at ($0.28) EPS, FY2022 earnings at ($1.37) EPS, FY2023 earnings at ($0.99) EPS and FY2024 earnings at ($0.23) EPS.

Several other brokerages also recently weighed in on PROF. Raymond James set a $22.00 target price on shares of Profound Medical and gave the company an “outperform” rating in a research note on Tuesday. Alliance Global Partners lowered their price objective on shares of Profound Medical from $16.25 to $12.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Investment Research downgraded shares of Profound Medical from a “hold” rating to a “sell” rating in a research note on Saturday, January 22nd. Finally, Cowen lowered their price objective on shares of Profound Medical from $28.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 7th.

Shares of PROF opened at $6.34 on Thursday. The firm has a market capitalization of $131.75 million, a P/E ratio of -4.23 and a beta of 1.11. Profound Medical has a twelve month low of $6.26 and a twelve month high of $19.32. The company has a 50 day moving average price of $8.46.

Profound Medical (NASDAQ:PROFGet Rating) last announced its earnings results on Thursday, March 3rd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $2.80 million. Profound Medical had a negative net margin of 446.65% and a negative return on equity of 34.89%. During the same quarter last year, the business earned ($0.38) earnings per share.

Several large investors have recently bought and sold shares of PROF. National Bank of Canada FI purchased a new position in shares of Profound Medical during the fourth quarter worth $722,000. Gagnon Securities LLC raised its holdings in shares of Profound Medical by 20.7% during the third quarter. Gagnon Securities LLC now owns 966,536 shares of the company’s stock worth $14,150,000 after purchasing an additional 165,691 shares during the last quarter. Golden State Equity Partners raised its holdings in shares of Profound Medical by 16.8% during the third quarter. Golden State Equity Partners now owns 30,885 shares of the company’s stock worth $450,000 after purchasing an additional 4,450 shares during the last quarter. FIL Ltd raised its holdings in shares of Profound Medical by 14.3% during the third quarter. FIL Ltd now owns 1,000,375 shares of the company’s stock worth $14,604,000 after purchasing an additional 125,030 shares during the last quarter. Finally, CVI Holdings LLC purchased a new position in shares of Profound Medical during the third quarter worth $146,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

About Profound Medical (Get Rating)

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, the United States, and Finland.

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

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