Research Analysts Set Expectations for Profound Medical Corp.’s Q1 2023 Earnings (NASDAQ:PROF)

Profound Medical Corp. (NASDAQ:PROF – Get Rating) – Equities researchers at Raymond James issued their Q1 2023 earnings estimates for shares of Profound Medical in a note issued to investors on Wednesday, March 8th. Raymond James analyst R. Sarugaser anticipates that the company will post earnings of ($0.38) per share for the quarter. Raymond James currently has a “Strong-Buy” rating and a $17.00 price target on the stock. The consensus estimate for Profound Medical’s current full-year earnings is ($1.16) per share. Raymond James also issued estimates for Profound Medical’s Q2 2023 earnings at ($0.37) EPS, Q3 2023 earnings at ($0.36) EPS, Q4 2023 earnings at ($0.30) EPS, FY2023 earnings at ($1.40) EPS, Q1 2024 earnings at ($0.35) EPS, Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.31) EPS and FY2024 earnings at ($1.33) EPS.

Separately, Lake Street Capital boosted their price target on shares of Profound Medical from $7.00 to $14.00 in a report on Friday, January 6th.

Profound Medical Price Performance

Shares of NASDAQ:PROF opened at $10.50 on Monday. The company’s 50-day moving average is $12.12 and its 200 day moving average is $7.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 15.11 and a current ratio of 14.82. The company has a market capitalization of $219.24 million, a P/E ratio of -7.61 and a beta of 0.84. Profound Medical has a fifty-two week low of $3.10 and a fifty-two week high of $13.52.

Hedge Funds Weigh In On Profound Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its holdings in Profound Medical by 657.7% during the third quarter. National Bank of Canada FI now owns 896,728 shares of the company’s stock valued at $3,736,000 after purchasing an additional 778,386 shares during the last quarter. Gagnon Securities LLC lifted its holdings in Profound Medical by 33.1% during the third quarter. Gagnon Securities LLC now owns 1,766,855 shares of the company’s stock valued at $7,131,000 after purchasing an additional 439,323 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Profound Medical by 759.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 317,810 shares of the company’s stock valued at $3,461,000 after purchasing an additional 280,832 shares during the last quarter. Gagnon Advisors LLC lifted its holdings in Profound Medical by 47.0% during the third quarter. Gagnon Advisors LLC now owns 648,465 shares of the company’s stock valued at $2,620,000 after purchasing an additional 207,409 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Profound Medical by 22.9% during the first quarter. Royal Bank of Canada now owns 321,701 shares of the company’s stock valued at $2,896,000 after purchasing an additional 59,998 shares during the last quarter. 48.85% of the stock is owned by hedge funds and other institutional investors.

Profound Medical Company Profile

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Profound Medical Corp. develops, manufactures and markets therapeutic platforms that combine real-time magnetic resonance imaging with directional and focused ultrasound technology for incision-free ablation of diseased tissue. The firm’s platforms offer clinicians and patients incision-free alternatives to current standards of care, which could include traditional surgery or radiation therapy.