FY2022 EPS Estimates for Profound Medical Corp. (NASDAQ:PROF) Cut by Leede Jones Gab

Profound Medical Corp. (NASDAQ:PROFGet Rating) – Stock analysts at Leede Jones Gab lowered their FY2022 earnings per share (EPS) estimates for Profound Medical in a report issued on Tuesday, May 10th. Leede Jones Gab analyst D. Loe now forecasts that the company will post earnings of ($0.94) per share for the year, down from their prior estimate of $0.02. Leede Jones Gab also issued estimates for Profound Medical’s FY2023 earnings at ($0.46) EPS, FY2024 earnings at ($0.12) EPS and FY2025 earnings at $0.47 EPS.

Several other research firms have also recently commented on PROF. Zacks Investment Research upgraded Profound Medical from a “sell” rating to a “hold” rating in a research note on Friday. Alliance Global Partners decreased their target price on Profound Medical from $16.25 to $12.00 and set a “buy” rating on the stock in a report on Tuesday. Cowen cut their target price on Profound Medical from $28.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 7th. Finally, Raymond James set a $22.00 price objective on Profound Medical and gave the stock an “outperform” rating in a research report on Tuesday.

Shares of PROF stock opened at $6.59 on Friday. Profound Medical has a 12 month low of $6.09 and a 12 month high of $19.32. The firm has a market cap of $136.94 million, a price-to-earnings ratio of -4.31 and a beta of 1.11. The stock has a 50-day moving average price of $8.40 and a 200 day moving average price of $9.98.

Profound Medical (NASDAQ:PROFGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.14). Profound Medical had a negative return on equity of 37.74% and a negative net margin of 417.41%. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $2.80 million. During the same quarter in the prior year, the company earned ($0.38) earnings per share.

Several hedge funds and other institutional investors have recently made changes to their positions in PROF. CVI Holdings LLC bought a new stake in shares of Profound Medical in the 3rd quarter valued at about $146,000. D. E. Shaw & Co. Inc. purchased a new stake in Profound Medical during the 4th quarter valued at $121,000. Harbor Advisors LLC purchased a new stake in Profound Medical during the 4th quarter valued at $139,000. Wealth Management Partners LLC purchased a new position in shares of Profound Medical in the 1st quarter worth $230,000. Finally, Millennium Management LLC purchased a new position in shares of Profound Medical in the 3rd quarter worth $426,000. Institutional investors 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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