Profound Medical (NASDAQ:PROF) Shares Down 1.3% – Should You Sell?

Profound Medical (NASDAQ:PROF) shares fell 1.3% on Thursday . The stock traded as low as $7.28 and last traded at $7.48. 113,004 shares were traded during mid-day trading, a decline of 49% from the average session volume of 221,709 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

Several brokerages recently commented on PROF. Wall Street Zen raised shares of Profound Medical from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Profound Medical in a research report on Monday, December 29th. Finally, Lake Street Capital upped their target price on Profound Medical from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Profound Medical presently has an average rating of “Hold” and a consensus target price of $12.00.

Profound Medical Stock Performance

The stock has a market cap of $271.45 million, a P/E ratio of -5.58 and a beta of 0.54. The stock’s fifty day simple moving average is $7.45 and its 200-day simple moving average is $6.08.

Profound Medical (NASDAQ:PROF) last announced its earnings results on Thursday, November 13th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.12. The company had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $6.99 million. Profound Medical had a negative net margin of 275.16% and a negative return on equity of 86.18%. As a group, equities research analysts forecast that Profound Medical will post -1.12 earnings per share for the current year.

Institutional Trading of Profound Medical

Institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. raised its stake in Profound Medical by 36.3% in the second quarter. TD Waterhouse Canada Inc. now owns 56,073 shares of the company’s stock valued at $342,000 after purchasing an additional 14,920 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in Profound Medical during the second quarter worth about $720,000. National Bank of Canada FI increased its holdings in Profound Medical by 7.3% in the 3rd quarter. National Bank of Canada FI now owns 172,883 shares of the company’s stock valued at $845,000 after buying an additional 11,704 shares during the period. Bank of America Corp DE raised its position in shares of Profound Medical by 14.3% in the 3rd quarter. Bank of America Corp DE now owns 200,160 shares of the company’s stock valued at $979,000 after buying an additional 24,974 shares in the last quarter. Finally, Thompson Davis & CO. Inc. raised its position in shares of Profound Medical by 3.3% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 210,495 shares of the company’s stock valued at $1,242,000 after buying an additional 6,645 shares in the last quarter. 47.86% of the stock is currently owned by institutional investors.

Profound Medical Company Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.