Wall Street brokerages expect that Profound Medical Corp. (NASDAQ:PROF – Get 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:PROF – Get 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.
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.
- Get a free copy of the StockNews.com research report on Profound Medical (PROF)
- Short-Covering Begins In Big Lots
- Agilent Technologies Is Bottoming But Don’t Buy It Yet
- Institutions Ring The Register On Toll Brothers Stock
- Dick’s Sporting Goods Falls Flat On Weak Guidance
- Indie Semiconductor Stock is Putting in a Bottom
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.