According to Zacks, “Profound Medical Corp. is a medical technology company. It is focused on a therapeutics platform which provides the precision of real-time Magnetic Resonance Imaging technology for the incision-free ablation of diseased tissue. The company principally commercialized the TULSA-PRO(R) and Sonalleve(R) platforms. Profound Medical Corp. is based in Mississauga, Canada. “
A number of other equities analysts have also recently weighed in on the company. Alliance Global Partners cut their price target on Profound Medical from $28.25 to $21.00 and set a buy rating for the company in a report on Thursday, May 13th. Raymond James set a $36.00 price objective on Profound Medical and gave the company a strong-buy rating in a research report on Thursday, July 1st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $29.67.
Profound Medical (NASDAQ:PROF) last released its quarterly earnings results on Wednesday, May 12th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.13). Profound Medical had a negative return on equity of 31.62% and a negative net margin of 385.73%. The company had revenue of $0.71 million during the quarter, compared to analyst estimates of $2.72 million. As a group, research analysts forecast that Profound Medical will post -0.91 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in PROF. Deerfield Management Company L.P. Series C grew its position in shares of Profound Medical by 86.7% in the first quarter. Deerfield Management Company L.P. Series C now owns 1,297,797 shares of the company’s stock valued at $26,138,000 after purchasing an additional 602,797 shares during the period. Royce & Associates LP grew its position in shares of Profound Medical by 52.3% in the first quarter. Royce & Associates LP now owns 458,400 shares of the company’s stock valued at $9,192,000 after purchasing an additional 157,400 shares during the period. Altium Capital Management LP purchased a new stake in shares of Profound Medical in the first quarter valued at $2,546,000. Blackcrane Capital LLC grew its position in shares of Profound Medical by 30.4% in the first quarter. Blackcrane Capital LLC now owns 445,525 shares of the company’s stock valued at $8,960,000 after purchasing an additional 103,758 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its position in Profound Medical by 30.3% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 173,784 shares of the company’s stock valued at $3,500,000 after acquiring an additional 40,368 shares during the period. 42.64% of the stock is owned by institutional investors and hedge funds.
About Profound Medical
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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