Profound Medical Corp. (NASDAQ:PROF) Receives Average Rating of “Buy” from Analysts


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Profound Medical Corp. (NASDAQ:PROF) has earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.42.

PROF has been the subject of several research reports. Zacks Investment Research raised shares of Profound Medical from a “sell” rating to a “hold” rating in a research note on Tuesday, March 2nd. Alliance Global Partners raised their price target on shares of Profound Medical from $20.25 to $28.25 and gave the company a “buy” rating in a research note on Thursday, January 7th. Lake Street Capital raised their price target on shares of Profound Medical from $27.00 to $32.00 in a research note on Monday, January 25th. Leede Jones Gab reaffirmed a “buy” rating on shares of Profound Medical in a research note on Thursday, March 4th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $34.00 price target on shares of Profound Medical in a research note on Monday, March 29th.

A number of hedge funds and other institutional investors have recently made changes to their positions in PROF. BlackRock Inc. bought a new position in Profound Medical during the third quarter worth $36,000. Navis Wealth Advisors LLC bought a new position in Profound Medical during the fourth quarter worth $49,000. SOA Wealth Advisors LLC. bought a new position in Profound Medical during the fourth quarter worth $109,000. Captrust Financial Advisors bought a new position in Profound Medical during the fourth quarter worth $125,000. Finally, CIBC World Markets Inc. bought a new position in Profound Medical during the fourth quarter worth $310,000. 35.90% of the stock is owned by institutional investors and hedge funds.

NASDAQ:PROF traded down $0.11 on Wednesday, hitting $20.06. The company had a trading volume of 46,521 shares, compared to its average volume of 83,207. The stock has a market capitalization of $407.02 million, a price-to-earnings ratio of -17.02 and a beta of 1.45. The firm has a 50 day moving average of $21.32 and a two-hundred day moving average of $21.46. Profound Medical has a 52 week low of $11.06 and a 52 week high of $28.97.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.11). The company had revenue of $2.88 million during the quarter, compared to the consensus estimate of $3.03 million. Profound Medical had a negative net margin of 275.12% and a negative return on equity of 33.69%. As a group, equities analysts expect that Profound Medical will post -1.14 earnings per share for the current fiscal year.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a medical technology 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. Its lead product TULSA-PRO system used for magnetic resonance imaging scanner in hospitals and treatment facilities.

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Analyst Recommendations for Profound Medical (NASDAQ:PROF)

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