Zacks: Analysts Anticipate Profound Medical Corp. (NASDAQ:PROF) Will Announce Quarterly Sales of $2.00 Million

Wall Street brokerages expect that Profound Medical Corp. (NASDAQ:PROFGet Rating) will post sales of $2.00 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Profound Medical’s earnings. Profound Medical posted sales of $2.63 million during the same quarter last year, which would suggest a negative year over year growth rate of 24%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Profound Medical will report full year sales of $10.22 million for the current year, with estimates ranging from $8.00 million to $12.00 million. For the next financial year, analysts expect that the business will report sales of $27.89 million, with estimates ranging from $22.00 million to $35.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Profound Medical.

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

Several analysts have recently weighed in on the company. Cowen cut their price objective on Profound Medical from $28.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 7th. Zacks Investment Research upgraded Profound Medical from a “sell” rating to a “hold” rating in a report on Friday, May 13th. Raymond James set a $22.00 price objective on Profound Medical and gave the company an “outperform” rating in a report on Tuesday, May 10th. Finally, Alliance Global Partners cut their price objective on Profound Medical from $16.25 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 10th.

Shares of Profound Medical stock opened at $7.78 on Thursday. The firm has a market cap of $161.67 million, a price-to-earnings ratio of -5.08 and a beta of 1.11. The business has a fifty day simple moving average of $8.12 and a 200-day simple moving average of $9.63. Profound Medical has a fifty-two week low of $6.09 and a fifty-two week high of $19.32.

Several institutional investors have recently made changes to their positions in the company. Timelo Investment Management Inc. acquired a new position in Profound Medical during the fourth quarter valued at $10,056,000. Letko Brosseau & Associates Inc. raised its position in Profound Medical by 58.0% during the first quarter. Letko Brosseau & Associates Inc. now owns 1,299,125 shares of the company’s stock valued at $11,701,000 after buying an additional 476,875 shares during the period. Deerfield Management Company L.P. Series C raised its position in Profound Medical by 32.1% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,713,797 shares of the company’s stock valued at $19,246,000 after buying an additional 416,000 shares during the period. Gagnon Securities LLC raised its position in Profound Medical by 22.9% during the first quarter. Gagnon Securities LLC now owns 1,324,335 shares of the company’s stock valued at $11,919,000 after buying an additional 246,978 shares during the period. Finally, FIL Ltd raised its position in Profound Medical by 14.3% during the third quarter. FIL Ltd now owns 1,000,375 shares of the company’s stock valued at $14,604,000 after buying an additional 125,030 shares during the period. 60.23% of the stock is currently owned by institutional investors.

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.

Featured Articles

Get a free copy of the Zacks research report on Profound Medical (PROF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Profound Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Profound Medical and related companies with MarketBeat.com's FREE daily email newsletter.