Profound Medical (NASDAQ:PROF) Raised to Hold at Wall Street Zen

Profound Medical (NASDAQ:PROF) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Profound Medical in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Profound Medical currently has an average rating of “Hold” and an average target price of $11.00.

Profound Medical Stock Up 2.2%

Shares of PROF opened at $6.01 on Friday. The company’s 50-day moving average price is $5.64 and its 200 day moving average price is $5.46. Profound Medical has a 12-month low of $3.76 and a 12-month high of $8.75. The company has a current ratio of 8.53, a quick ratio of 7.07 and a debt-to-equity ratio of 0.11. The firm has a market cap of $181.47 million, a P/E ratio of -4.12 and a beta of 0.67.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.12. The business had revenue of $5.29 million during the quarter, compared to analysts’ expectations of $6.99 million. Profound Medical had a negative net margin of 343.97% and a negative return on equity of 89.74%. On average, sell-side analysts forecast that Profound Medical will post -1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Timelo Investment Management Inc. lifted its holdings in Profound Medical by 8.7% during the 1st quarter. Timelo Investment Management Inc. now owns 990,995 shares of the company’s stock worth $5,768,000 after buying an additional 79,234 shares in the last quarter. Gagnon Securities LLC increased its position in shares of Profound Medical by 3.1% during the second quarter. Gagnon Securities LLC now owns 1,749,913 shares of the company’s stock worth $10,324,000 after acquiring an additional 52,233 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Profound Medical during the second quarter worth $720,000. National Bank of Canada FI raised its stake in shares of Profound Medical by 8.4% in the first quarter. National Bank of Canada FI now owns 137,126 shares of the company’s stock valued at $798,000 after acquiring an additional 10,618 shares in the last quarter. Finally, Ring Mountain Capital LLC boosted its holdings in Profound Medical by 16.8% in the second quarter. Ring Mountain Capital LLC now owns 358,420 shares of the company’s stock valued at $2,021,000 after purchasing an additional 51,463 shares during the period. Institutional investors and hedge funds own 47.86% of the company’s stock.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.