Profound Medical (TSE:PRN) Releases Earnings Results

Profound Medical (TSE:PRN) posted its quarterly earnings results on Thursday. The company reported C($0.30) earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$13.99 million during the quarter. Profound Medical had a negative return on equity of 62.45% and a negative net margin of 170.92%.

Profound Medical Price Performance

Profound Medical stock opened at C$9.64 on Friday. The company has a debt-to-equity ratio of 14.82, a current ratio of 6.46 and a quick ratio of 14.98. The stock has a market cap of C$352.25 million, a price-to-earnings ratio of -9.74 and a beta of 1.40. The firm has a 50-day moving average of C$8.74 and a two-hundred day moving average of C$9.24. Profound Medical has a 1 year low of C$6.52 and a 1 year high of C$12.40.

Insider Buying and Selling

In related news, insider Thomas Michael Tamberrino purchased 3,755 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was purchased at an average price of C$9.44 per share, with a total value of C$35,447.20. Following the completion of the purchase, the insider owned 53,573 shares of the company’s stock, valued at approximately C$505,729.12. The trade was a 7.54% increase in their position. Also, insider Richard Ringler Fabian purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was purchased at an average price of C$8.31 per share, with a total value of C$83,100.00. Following the acquisition, the insider directly owned 10,000 shares of the company’s stock, valued at C$83,100. This trade represents a ? increase in their position. Company insiders own 8.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James Financial upgraded shares of Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Moderate Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Profound Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.64.

Profound Medical Company Profile

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.