Raymond James Has Bullish Forecast for PROF FY2024 Earnings

Profound Medical Corp. (NASDAQ:PROF) – Equities research analysts at Raymond James raised their FY2024 earnings estimates for shares of Profound Medical in a research report issued on Tuesday, February 18th. Raymond James analyst M. Freeman now forecasts that the company will earn ($1.18) per share for the year, up from their prior forecast of ($1.27). Raymond James currently has a “Strong-Buy” rating on the stock. The consensus estimate for Profound Medical’s current full-year earnings is ($1.15) per share. Raymond James also issued estimates for Profound Medical’s Q4 2024 earnings at ($0.26) EPS, Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at ($0.26) EPS, FY2025 earnings at ($1.04) EPS, FY2026 earnings at ($0.79) EPS, FY2027 earnings at ($0.17) EPS and FY2028 earnings at $1.14 EPS.

Profound Medical Stock Up 4.3 %

Shares of PROF stock opened at $7.08 on Thursday. The stock has a 50 day simple moving average of $7.01 and a 200 day simple moving average of $7.76. Profound Medical has a 1 year low of $5.63 and a 1 year high of $11.42. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11.

Institutional Trading of Profound Medical

A number of institutional investors have recently modified their holdings of PROF. Raymond James Trust N.A. increased its position in shares of Profound Medical by 14.3% in the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock worth $96,000 after purchasing an additional 1,500 shares during the period. XTX Topco Ltd bought a new position in Profound Medical in the 4th quarter valued at about $114,000. MTM Investment Management LLC raised its position in shares of Profound Medical by 10.4% in the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock valued at $139,000 after buying an additional 1,750 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Profound Medical by 201.6% during the 4th quarter. Marshall Wace LLP now owns 36,216 shares of the company’s stock worth $272,000 after acquiring an additional 24,208 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of Profound Medical by 94.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company’s stock worth $346,000 after acquiring an additional 22,500 shares in the last quarter. 47.86% of the stock is currently owned by institutional investors.

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.